An Econometric Characterization of Business Cycle Dynamics with Factor Structure and Regime Switching

1998 ◽  
Vol 39 (4) ◽  
pp. 969 ◽  
Author(s):  
Marcelle Chauvet
Keyword(s):  
Business Cycle ◽  
Factor Structure ◽  
Regime Switching ◽  
Business Cycle Dynamics

scholarly journals Growth Trends and Systematic Patterns of Booms and Busts-Testing 200 Years of Business Cycle Dynamics

2018 ◽  
Vol 81 (1) ◽  
pp. 62-78 ◽  
Author(s):  
Marlon Fritz ◽  
Thomas Gries ◽  
Yuanhua Feng
Keyword(s):  
Business Cycle ◽  
Growth Trends ◽  
Business Cycle Dynamics

scholarly journals Skilled migration and business cycle dynamics

2019 ◽  
Vol 109 ◽  
pp. 103781 ◽  
Author(s):  
Christie Smith ◽  
Christoph Thoenissen
Keyword(s):  
Business Cycle ◽  
Skilled Migration ◽  
Business Cycle Dynamics

Firing tax vs severance payments – an unequal comparison

2014 ◽  
Vol 41 (5) ◽  
pp. 721-736 ◽  
Author(s):  
Dennis Wesselbaum
Keyword(s):  
Labor Market ◽  
Business Cycle ◽  
Policy Reforms ◽  
Cost Component ◽  
Content Type ◽  
Firing Costs ◽  
Severance Payments ◽  
Business Cycle Model ◽  
Business Cycle Dynamics ◽  
Real Business Cycle Model

Purpose – The purpose of this paper is to compare two elements of lay-off costs in a dynamic model of the labor market and analyze the differences for business cycle dynamics and welfare. Design/methodology/approach – The paper builds a general equilibrium Real Business Cycle model and introduces firing costs and severance payments. Labor market frictions are assumed to follow the famous search and matching approach. Findings – The paper finds that firing costs imply a higher volatility over the cycle and have stronger negative welfare effects. Severance payments have a lower volatility, reduce unemployment, and reduce welfare by a smaller amount. Practical implications – Policy reforms should be aimed to use severance payments and reduce the ring cost component of lay-off costs. Originality/value – Increasing welfare and a more stable business cycle could be supported by using severance payments instead of firing costs.

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