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This paper provides evidence on the effect of recessions and expansions on the productivity growth rate of productivity … perception of the business cycle. We find that productivity tends to converge in recessions because, in these periods, the …
Persistent link: https://www.econbiz.de/10010988813
Severe simultaneous recessions are defined to occur when at least half of the countries under investigation (Australia … that extend upon stylized facts for US recessions. One, are the occurrences of simultaneous recessions predictable? Two …, does the yield spread predict future occurrences of simultaneous recessions? I use the indicator for severe simultaneous …
Persistent link: https://www.econbiz.de/10010594695
Severe simultaneous recessions are de?ned to occur when at least half of the countries under investigation (Australia … that extend upon stylized facts for US recessions. One, are the occurrences of simultaneous recessions predictable? Two …, does the yield spread predict future occurrences of simultaneous recessions? I use the indicator for severe simultaneous …
Persistent link: https://www.econbiz.de/10009371455
The goal of this chapter is to study how, and by how much, household income, wealth, and preference heterogeneity amplify and propagate a macroeconomic shock. We focus on the US Great Recession of 2007–09 and proceed in two steps. First, using data from the Panel Study of Income Dynamics, we...
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