Showing 1 - 10 of 312
Persistent link: https://www.econbiz.de/10011503786
Persistent link: https://www.econbiz.de/10012294815
Perron and Wada (J Monet Econ 56:749-65, 2009) propose a new method of decomposition of the GDP in its trend and cycle components, which overcomes the identification problems of models of unobserved components (UC) and ARIMA models and at the same time, admits non-linearities and asymmetries in...
Persistent link: https://www.econbiz.de/10010254293
This paper lays down a model where dispersed information generates booms and busts in economic activity. Boom-and-bust dynamics start when firms are initially over-optimistic about demand due to an aggregate noise shock in their signals. Consequently, they over-produce, which generates a boom....
Persistent link: https://www.econbiz.de/10010223138
Persistent link: https://www.econbiz.de/10010418320
-cycle framework how individuals respond to recessions. Our focus is on the sharp increase in savings rates that have been observed in … the current and recent recessions. We show empirically that these saving spikes were short-lived and common to all working … age groups. We then study life-cycle models in which recessions involve one or more of: (i) an aggregate permanent …
Persistent link: https://www.econbiz.de/10009530241
Persistent link: https://www.econbiz.de/10010467979
different consequences for the costs of recessions. Using U.S. employer-employee data, we find that employment growth at low … that while during recessions separations fall in both high-paying and low-paying firms, the decline is stronger among low …
Persistent link: https://www.econbiz.de/10010436157
Persistent link: https://www.econbiz.de/10011512928
recessions. If benefits are too generous, however, the programs can lengthen unemployment and raise the unemployment rate. The …
Persistent link: https://www.econbiz.de/10011413806