scholarly journals The Role of Contracting Schemes for the Welfare Costs of Nominal Rigidities Over the Business Cycle

2005 ◽  
Author(s):  
Matthias O. Paustian
Keyword(s):  
Business Cycle ◽  
Nominal Rigidities ◽  
Welfare Costs ◽  
The Business Cycle

scholarly journals Inequality over the business cycle: the role of distributive shocks

2021 ◽  
pp. 1-30
Author(s):  
Marius Clemens ◽  
Ulrich Eydam ◽  
Maik Heinemann
Keyword(s):  
Income Inequality ◽  
Income Distribution ◽  
Business Cycle ◽  
Parameter Estimates ◽  
Panel Estimation ◽  
Bayesian Techniques ◽  
Elasticity Of Intertemporal Substitution ◽  
Ex Ante ◽  
The Business Cycle

Abstract This paper examines how wealth and income inequality dynamics are related to fluctuations in the functional income distribution over the business cycle. In a panel estimation for OECD countries between 1970 and 2016, although inequality is, on average countercyclical and significantly associated with the capital share, one-third of the countries display a pro- or noncyclical relationship. To analyze the observed pattern, we incorporate distributive shocks into an RBC model, where agents are ex ante heterogeneous with respect to wealth and ability. We find that whether wealth and income inequality behave countercyclically or not depends on the elasticity of intertemporal substitution and the persistence of shocks. We match the model to quarterly US data using Bayesian techniques. The parameter estimates point toward a non-monotonic relationship between productivity and inequality fluctuations. On impact, inequality increases in response to TFP shocks but subsequently declines. Furthermore, TFP shocks explain 17% of inequality fluctuations.

scholarly journals Firm-specific capital, nominal rigidities and the business cycle

2011 ◽  
Vol 14 (2) ◽  
pp. 225-247 ◽  
Author(s):  
David Altig ◽  
Lawrence J. Christiano ◽  
Martin Eichenbaum ◽  
Jesper Lindé
Keyword(s):  
Business Cycle ◽  
Nominal Rigidities ◽  
The Business Cycle ◽  
Specific Capital

scholarly journals The Instrumentarium for Sustainable Development of an Enterprise in Conditions of Crisis

2021 ◽  
Vol 4 (519) ◽  
pp. 285-293
Author(s):  
Y. S. Pohorelov ◽  
◽  
G. V. Kozachenko ◽  
Keyword(s):  
Sustainable Development ◽  
Business Cycle ◽  
Continuous Process ◽  
Central Place ◽  
General View ◽  
Stage Of Development ◽  
Crisis Scenarios ◽  
The Business Cycle ◽  
Key Resources

Development as a continuous process should be carried out at all stages of the business cycle of an enterprise. Particular attention should be paid to the development at the downturn stages of the business cycle of the enterprise, in particular in the conditions of crisis in its activities. The focus of the article led to the need to disclose the content of the concepts of «crisis», «development», «sustainable development» and «sustainable development of the enterprise in a crisis». At the descending stages of the business cycle of the enterprise, its development should be fully controlled and carefully managed. To ensure control and manageability of the development of the enterprise in a crisis, an appropriate instrumentarium is needed, wherein the central place belongs to the anti-crisis scenarios of sustainable development and its key resources. Anti-crisis scenarios of sustainable development of the enterprise in a crisis are proposed to be developed on the basis of identified and assessed threats to its activities, taking into account the nature of threats, their interconnectedness and interdependence, as well as the stage of development of each of the threats. Because the implementation of threats to the enterprise’s activities can further aggravate its condition: crisis phenomena are transformed into a crisis situation, which, in turn, threatens to develop into a crisis state. In order to develop an anti-crisis scenario for the development of the enterprise in the situation of the probable simultaneous implementation of several threats to its activities, the use of the method of tuples is proposed. A general view of the tuple for the anti-crisis scenario is presented. The role of key resources in ensuring sustainable development of the enterprise in a crisis is disclosed. The problematic aspects of using key resources in ensuring sustainable development of the enterprise in a crisis are displayed.

scholarly journals Firm-Specific Capital, Nominal Rigidities and the Business Cycle

2010 ◽  
Vol 2010 (990) ◽  
pp. 1-37 ◽  
Author(s):  
David Altig ◽  
◽  
Lawrence J. Christiano ◽  
Martin S. Eichenbaum ◽  
Jesper Lindé
Keyword(s):  
Business Cycle ◽  
Nominal Rigidities ◽  
The Business Cycle ◽  
Specific Capital
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