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Credit Booms, Debt Overhang and Secular Stagnation

Illing, Gerhard - 2017

Why do advanced economies fall into prolonged periods of economic stagnation, particularly in the aftermath of credit booms? We present a model of persistent aggregate demand shortage based on strong liquidity preferences of households, in which we incorporate financial imperfections to study...

Persistent link: https://www.econbiz.de/10012966912

Credit, asset prices and business cycles at the global level

Dées, Stéphane - 2015

This paper assesses the role of financial variables in real economic fluctuations, in view of analysing the link between financial cycles and business cycles at the global level. A Global VAR modelling approach, which has been proved suitable for modelling country or regional linkages, is used...

Persistent link: https://www.econbiz.de/10011476350

Allocative efficiency of UK firms during the Great Recession

Gerth, Florian - 2017

This paper argues that the fall and persistently low level of UK Total Factor Productivity (TFP) following the Great Recession was caused by the turnover (entry and exit) of firms, rather than by resource misallocation between firms within industries. I conduct a misallocation exercise employing...

Persistent link: https://www.econbiz.de/10011717067

Section 2 Enforcement and the Great Recession : Why Less (Enforcement) Might Mean More (GDP)

Meese, Alan J. - 2019

Section 2 of the Sherman Act bans monopolization of any part of interstate commerce. This essay draws on macroeconomic theory and the New Deal experience with partial repeal of the antitrust laws and cartelization of labor to examine the relationship between macroeconomic stability and the...

Persistent link: https://www.econbiz.de/10014168446

The dynamics of business investment following banking crises and normal recessions

Jannsen, Nils - 2015

I empirically analyze the dynamics of business investment following normal recessions (declines in business investment … for significant non-linear trend reversion or bounce-back effects on the level of business investment following normal … recessions, i.e., the deeper the previous recession was, the higher the growth rate of business investment will be. The trend …

Persistent link: https://www.econbiz.de/10010518645

Investment-Specific Technology Shocks and International Business Cycles : An Empirical Assessment

Mandelman, Federico S.; Rabanal, Pau; Rubio-Ramírez, … - 2014

In this paper, we first introduce investment-specific technology (IST) shocks into an otherwise standard international … Economic Co-operation and Development for the relative price of investment to build and estimate these IST processes across the …

Persistent link: https://www.econbiz.de/10014048949

Investment-specific technology shocks and international business cycles : an empirical assessment

Mandelman, Federico S.; Rabanal, Pau; Rubio-Ramírez, … - 2010

In this paper, we first introduce investment-specific technology (IST) shocks to an otherwise standard international … relative price of investment to build and estimate these IST processes across the United States and a "rest of the world … as powerful to explain any of the four mentioned puzzles. -- international business cycles ; cointegration ; investment …

Persistent link: https://www.econbiz.de/10008664137

Technology Shocks : Novel Implications for International Business Cycles

Raffo, Andrea - 2010

investment-specific technology shocks into a standard two-country general equilibrium model with variable capacity utilization … and weak wealth effects on labor supply. Investment-specific technology shocks introduce a source of fluctuations in … mechanism of technology shocks across countries and for the Barro and King (1984) critique of investment shocks …

Persistent link: https://www.econbiz.de/10013146967

Investment-specific technology shocks and international business cycles : an empirical assessment

Mandelman, Federico S.; Rabanal, Pau; Rubio-Ramírez, … - 2010

Persistent link: https://www.econbiz.de/10009405430

Investment-specific technology shocks and international business cycles : an empirical assessment

Mandelman, Federico S.; Rabanal, Pau; Rubio-Ramírez, … - In: Review of economic dynamics 14 (2011) 1, pp. 136-155

Persistent link: https://www.econbiz.de/10009259791