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The Seasonal Cycle and the Business Cycle [PDF]
Almost all recent research on macroeconomic fluctuations has worked with seasonally adjusted or annual data. This paper takes a different approach by treating seasonal fluctuations as worthy of study in their own right. Our results show that seasonal fluctuations are an important source of variation in all macroeconomic quantity variables but are small
Robert B. Barsky, Jeffrey A. Miron
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Unemployment and Business Cycles [PDF]
We develop and estimate a general equilibrium model that accounts for key business cycle properties of macroeconomic aggregates, including labor market variables. In sharp contrast to leading New Keynesian models, wages are not subject to exogenous nominal rigidities.
Lawrence J. Christiano+2 more
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Housing and the Business Cycle [PDF]
In the United States, the percentage standard deviation of residential investment is more than twice that of non-residential investment. In addition, GDP, consumption, and both types of investment co-move positively. We reproduce these facts in a calibrated multi-sector growth model where construction, manufacturing and services are combined, in ...
Morris A. Davis, Jonathan Heathcote
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This paper investigates a real-business-cycle economy that features dispersed information about the underlying aggregate productivity shocks, taste shocks, and - potentially - shocks to monopoly power. We show how the dispersion of information can (i) contribute to significant inertia in the response of macroeconomic outcomes to such shocks; (ii ...
Angeletos, Marios, La'O, Jennifer
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The goal of this study was to examine the association between Business Life Cycle phases and organizational capital using PSX index companies. Mainly, the study investigates the relationship of organizational capital phases during different phases of ...
Zahid Bashir +2 more
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THE INDONESIA-MIDDLE EAST BUSINESS CYCLE SYNCHRONIZATION
This study aims to analyze the business cycle synchronization (BCS) between Indonesia and 14 Middle Eastern countries and its determinants. The BCS was measured using BCS Index.
Memet Agustiar
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Are apprenticeships business cycle proof?
Although there is evidence that apprenticeship training can ease the transition of youth into the labour market and thereby alleviate youth unemployment, many policymakers fear that firms will reduce the number of apprenticeship positions during economic
Samuel Lüthi, Stefan C. Wolter
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Income inequality and the business cycle [PDF]
This paper first examines the relationship between ordinary least squares estimators of consumption and investment for 36 selected countries with their respective Gini indices.
Shahee Mostafa
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The appreciation of the dollar in the aftermath of the euro launch came as a surprise to most observers; furthermore, the traditional models fail to capture its dynamics.
Renato Filosa
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The Business Cycle and the Life Cycle [PDF]
Our paper documents the differences in the variability of hours worked over the business cycle across several demographic groups and shows that these differences are large. We argue that understanding these differences should be useful in understanding the forces that account for aggregate fluctuations in hours worked.
Paul Gomme+7 more
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