Open Market Shocks in a Business Cycle Model with Financial Intermediation

2002 ◽  
pp. 105-130 ◽  
Author(s):  
Burkhard Heer ◽  
Andreas Schabert
Keyword(s):  
Business Cycle ◽  
Financial Intermediation ◽  
Open Market ◽  
Cycle Model ◽  
Business Cycle Model ◽  
Market Shocks

A Business Cycle Model with Private Information

1989 ◽  
Vol 7 (2) ◽  
pp. 210-237 ◽  
Author(s):  
Bruce D. Smith
Keyword(s):  
Business Cycle ◽  
Private Information ◽  
Cycle Model ◽  
Business Cycle Model

scholarly journals A Capital Market in an Equilibrium Business Cycle Model

Econometrica ◽  
1980 ◽  
Vol 48 (6) ◽  
pp. 1393 ◽  
Author(s):  
Robert J. Barro
Keyword(s):  
Business Cycle ◽  
Capital Market ◽  
Cycle Model ◽  
Business Cycle Model

Noise-induced transitions in a stochastic Goodwin-type business cycle model

2017 ◽  
Vol 40 ◽  
pp. 103-115 ◽  
Author(s):  
Jochen Jungeilges ◽  
Tatyana Ryazanova
Keyword(s):  
Business Cycle ◽  
Cycle Model ◽  
Business Cycle Model

scholarly journals Firing costs in a business cycle model with endogenous separations

2015 ◽  
Vol 42 (3) ◽  
pp. 499-518
Author(s):  
Dennis Wesselbaum
Keyword(s):  
Business Cycle ◽  
Empirical Evidence ◽  
Employment Protection ◽  
Cycle Model ◽  
Beveridge Curve ◽  
Flow Rates ◽  
Content Type ◽  
Firing Costs ◽  
Cross Country ◽  
Business Cycle Model

Purpose – The purpose of this paper is to introduce productivity-dependent firing costs into an otherwise standard endogenous separations matching model. The authors suggest an alternative to the standard fix cost approach and account for empirical evidence emphasizing that firing costs vary across workers. The authors show that the model with firing costs outperformes the model without firing costs and replicates the empirical facts fairly well. Furthermore, the authors present cross-country evidence that countries with stricter employment protection have a weaker Beveridge curve relation and surprisingly more volatile job flow rates. Design/methodology/approach – The authors begin the analysis at the intersection of labor and product markets. For this purpose, the authors derive a real business cycle model with search and matching frictions and endogenous separations. The authors enrich this set-up by introducing productivity-dependent firing costs. Findings – The authors show that the model with firing costs outperformes the model without firing costs and replicates the empirical facts fairly well. Furthermore, the authors present cross-country evidence that countries with stricter employment protection have a weaker Beveridge curve relation and surprisingly more volatile job flow rates. Originality/value – This paper introduces productivity-dependent firing costs into an otherwise standard endogenous separations matching model. The authors suggest an alternative to the standard fix cost approach and account for empirical evidence emphasizing that firing costs vary across workers. The authors show that the model with firing costs outperformes the model without firing costs and replicates the empirical facts fairly well. Furthermore, the authors present cross-country evidence that countries with stricter employment protection have a weaker Beveridge curve relation and surprisingly more volatile job flow rates.

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