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Essays on business cycle analysis and demography
Sarferaz, Samad - 2009
Persistent link: https://www.econbiz.de/10008811071
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Business Cycles and Financial Crises : The Roles of Credit Supply and Demand Shocks
Nason, James M. - 2016
intertemporal price. The model space is limited to stochastic volatility (SV) in the errors of the MS-BVARs. Of the 15 MS …
Persistent link: https://www.econbiz.de/10013007877
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Business Cycles and Financial Crises : The Roles of Credit Supply and Demand Shocks
Nason, James M. - 2013
intertemporal price. The model space is limited to stochastic volatility (SV) in the errors of the MS-BVARs. Of the 15 MS …
Persistent link: https://www.econbiz.de/10013078965
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Buried in the Vaults of Central Banks : Monetary Gold Hoarding and the Slide into the Great Depression
Karau, Sören - 2021
I study whether monetary gold hoarding was the main cause of the Great Depression in a structural VAR analysis. The notion that monetary forces played an important role in bringing about the depression is well established in the narrative literature, but has more recently met some skepticism by...
Persistent link: https://www.econbiz.de/10013249623
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A Critique of the Austrian School Interpretation of the 1920-21 Depression
Kuehn, Daniel Peter - 2010
A series of recent reviews of the depression of 1920-21 by Austrian School and libertarian economists have argued that the downturn demonstrates the poverty of Keynesian policy recommendations. However, these writers misrepresent important characteristics of the 1920-21 downturn, understating...
Persistent link: https://www.econbiz.de/10013144724
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Money, Sticky Wages, and the Great Depression
Bordo, Michael D.; Erceg, Christopher J.; Evans, Charles L. - 2000
This paper examines the ability of a simple stylized general equilibrium model that incorporates nominal wage rigidity to explain the magnitude and persistence of the Great Depression in the United States. The impulses to our analysis are money supply shocks. The Taylor contracts model is...
Persistent link: https://www.econbiz.de/10014154226
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Measuring Economic Downside Risk and Severity : Growth at Risk
Yao, Yudong; Wang, Yan - 2005
Using Growth at Risk as a measure of downside growth risk, the authors find that higher perceived levels of downside growth risk seem to be negatively associated with long-term growth. Output collapses and crises are a fact of life. Severe economic downturns occur periodically and have grave...
Persistent link: https://www.econbiz.de/10014124889
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A banking explanation of the US velocity of money: 1919 - 2004
Benk, Szilárd; Gillman, Max; Kejak, Michal - 2009
velocity volatility at both business cycle and long run frequencies. With filtered velocity turning negative, starting during … cycle, credit shocks, velocity and volatility …
Persistent link: https://www.econbiz.de/10003919681
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Is increased price flexibility stabilizing? : redux
Bhattarai, Saroj; Eggertsson, Gauti B.; Schoenle, Raphael - 2012
We study the implications of increased price flexibility on aggregate output volatility in a dynamic stochastic general … flexibility ; aggregate volatility ; systematic monetary policy ; DSGE model ; Bayesian estimation …
Persistent link: https://www.econbiz.de/10009521652
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The effect of the great moderation on the US business cycle in a time-varying multivariate trend-cycle model
Creal, Drew; Koopman, Siem Jan; Zivot, Eric - 2008
accounts for time variation in macroeconomic volatility, known as the great moderation. In particular, we consider an … volatility processes and mixture distributions for the irregular components and the common cycle disturbances enable us to … that time-varying volatility is only present in the a selection of idiosyncratic components while the coefficients driving …
Persistent link: https://www.econbiz.de/10011376640