Showing 1 - 10 of 126
standard theories of output fluctuations. Second, to isolate the one-way impact of financial integration on output co …
Persistent link: https://www.econbiz.de/10010273687
The per iodic structure of business cycles suggests that significant asymmetries are present over different phases of the cycle. This paper uses markov regime-switching models with fixed and duration dependent transition probabilities to directly model expansions, contractions and durations in...
Persistent link: https://www.econbiz.de/10009447874
After conceptual clarification of international business cycle and a review of the literature, a new indicator is proposed. This indicator refers to two time series only and allows for an internationally comparable quantification of a country's position in the business cycle. We then calculate...
Persistent link: https://www.econbiz.de/10009448749
This paper studies the effect of the firm-size distribution on the relationship between employment and output. We construct a theoretical model, which predicts that changes in demand for industry output have larger effects on employment in industries characterised by a distribution that is more...
Persistent link: https://www.econbiz.de/10013208775
This paper studies the effect of the firm-size distribution on the relationship between employment and output. We construct a theoretical model, which predicts that changes in demand for industry output have larger effects on employment in industries characterised by a distribution that is more...
Persistent link: https://www.econbiz.de/10011561853
On the basis of quarterly data in 1977-87 and the use of the Engle-Granger method of co-integration, we find that real and financial factors, insolvency and illiquidity, are all important, separate influences on the defaults of French firms. We capture the effect of illiquidity by constructing...
Persistent link: https://www.econbiz.de/10005504522
changes in risk to fluctuations in aggregate consumption and (d) the significant impact of incomplete markets on aggregate … fluctuations in calibrated general equilibrium models. We conclude with directions for future research. …
Persistent link: https://www.econbiz.de/10005504693
Existing models of equilibrium unemployment with endogenous labor market participation are complex, generate procyclical unemployment rates, and suffer from the usual defects of matching models. We embed endogenous participation in a simple, tractable job market matching model, show analytically...
Persistent link: https://www.econbiz.de/10005537405
government spending and tax multipliers, and the size of the welfare losses from fluctuations …
Persistent link: https://www.econbiz.de/10011097429
The objective of this doctoral thesis is to put forth the role of psychology in the fluctuations of production …
Persistent link: https://www.econbiz.de/10011093907