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Do Bivariate SVAR Models with Long-Run Identifying Restrictions Yield Reliable Results? The Case of Germany

van Zandweghe, Willem; Gottschalk, Jan - 2001

Bivariate SVAR models employing long-run identifying restrictions are often used to investigate the source of business cycle fluctuations. Their advantage is the simplicity in use and interpretation. However, their low dimension may also lead to a failure of the identification procedure, with...

Persistent link: https://www.econbiz.de/10010276923

Macroeconomic fluctuations and bank lending: evidence for Germany and the euro area

Eickmeier, Sandra; Hofmann, Boris; Worms, Andreas - 2006

This paper analyzes how bank lending to the private nonbank sector responds dynamically to aggregate supply, demand and monetary policy shocks in Germany and the euro area. The results suggest that the dynamic responses in the two areas are broadly similar, although there are some differences in...

Persistent link: https://www.econbiz.de/10010295823

News-driven business cycles in SVARs

Bunk, Patrick - 2011

shocks to the real interest rate. The common theme among these identifications is a technological change in productivity that …

Persistent link: https://www.econbiz.de/10010281600

Interpreting productivity growth in the new economy: Some agnostic notes

Gundlach, Erich - 2001

The growth rate of total factor productivity seems to have increased recently, at least in the United States. Higher US … productivity growth may justify higher stock market valuations than in the past and thus herald an emerging New Economy. However …, the size of the estimated growth rate of total factor productivity depends on an assumption about the factor …

Persistent link: https://www.econbiz.de/10010277425

Export market exit and firm survival: Theory and first evidence

Hiller, Sanne; Schröder, Philipp J. H.; Sørensen, Allan - 2013

productivity not only increases the likelihood of exporting, but also the chances of firm survival and continued export market …

Persistent link: https://www.econbiz.de/10010294475

Productivity, welfare and reallocation: theory and firm-level evidence

Basu, Susanto; Pascali, Luigi; Schiantarelli, Fabio; … - 2009

values of the standard Solow productivity residual. The equivalence holds if the representative household maximizes utility …

Persistent link: https://www.econbiz.de/10010269431

Comparing shocks and frictions in US and euro area business cycles: a Bayesian DSGE approach

Smets, Frank; Wouters, Raf - 2004

over a common sample period (1974-2002). The structural estimation methodology allows us to investigate whether differences …

Persistent link: https://www.econbiz.de/10011506583

Cyclical skill-biased technological change

Balleer, Almut; van Rens, Thijs - 2009

Over the past two decades, technological progress has been biased towards making skilled labor more productive. What does skill-biased technological change imply for business cycles? To answer this question, we construct a quarterly series for the skill premium from the CPS and use it to...

Persistent link: https://www.econbiz.de/10010276400

Do News Shocks Drive Business Cycles? Evidence from German Data

Lucke, Bernd; Haertel, Thomas - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-10, pp. 1-21

We study the Beaudry and Portier (2006)-hypothesis of delayed-technology diffusion and news-driven business cycles. For German data on TFP and stock prices we find qualitatively similar empirical evidence. Quantitatively, however, an impulse response analysis suggests that a substantial part of...

Persistent link: https://www.econbiz.de/10010295308

Banks' regulatory capital buffer and the business cycle: evidence for German savings and cooperative banks

Stolz, Stéphanie; Wedow, Michael - 2005

This paper analyzes the effect of the business cycle on the regulatory capital buffer of German savings and cooperative banks in the period 1993-2003. The capital buffer is found to fluctuate anticyclically over the business cycle. The fluctuation is stronger for savings banks than for...

Persistent link: https://www.econbiz.de/10010295900