This dissertation empirically investigates macroeconomic fluctuations.In the first chapter, I study nontechnology shocks. It is popular to identify technology shocks as shocks permanently affecting labor productivity in SVAR. However it potentially misidentifies nontechnology shocks permanently...

This dissertation computes the optimal monetary and fiscal policy for small open and emerging economies in an estimated medium-scale model. The model departs from the conventional approach as it encompasses all the major nominal and real rigidities normally found in the literature in a single...

New residential construction is significantly more procyclical in emerging markets than in developed countries, although the correlation between aggregate investment and output is similar across emerging and developed countries. This paper shows that a multi-sector stochastic growth model with a...

Castro and Coen-Pirani (2008) document that aggregate skilled hours and employment both became more volatile after the mid-1980s, in contrast to the simultaneous volatility decline of most aggregates, including overall hours and employment and unskilled hours and employment. In chapter 1, I...

My thesis explores the following question: how workers of different skill are allocated across jobs and unemployment over the business cycle. I am interestedin understanding the "over-qualification" of workers that occurs during periods of high unemployment, as increased congestion in the labor...

Die vorliegende Dissertation zu makroökonomischen Themen beinhaltet einen einleitenden Literaturüberblick, drei eigenständige und voneinander unabhängige Kapitel sowie einen technischen Anhang. In Kapitel zwei wird ein Zwei-Länder Modell einer Währungsunion betrachtet, in dem die...

In this study, we first review the bifurcation phenomena in dynamic economic systems and point out the importance of bifurcations together with a summary of the common types of bifurcations which have been encountered in economic research. Although bifurcation analysis is a relatively new...