ElasticSearch Score: 11.61594
We construct a new dataset of unanticipated contracts and examine their effects on employment growth. We find positive, significant and persistent effects on firms with fewer than 150 employees and estimate a cost-perjob that is an order of magnitude lower than previous estimates.
ElasticSearch Score: 11.613969
ElasticSearch Score: 11.613215
This paper develops an economic framework to analyze the exchange rate of virtual currency. Three components are important: first, the current use of virtual currency to make payments; second, the decision of forward-looking investors to buy virtual currency (thereby effectively regulating its supply); and third, the elements that jointly drive future consumer adoption and merchant acceptance of virtual currency.
ElasticSearch Score: 11.6113615
The author studies the effects of capital reallocation (the flow of productive capital across firms and establishments mainly through changes in ownership) on aggregate labour productivity. Capital reallocation is an important activity in the United States: on average, its total value is 3–4 per cent of U.S. GDP.
ElasticSearch Score: 11.611273
We propose alternative single-equation semi-structural models for forecasting inflation in Canada, whereby structural New Keynesian models are combined with time-series features in the data. Several marginal cost measures are used, including one that in addition to unit labour cost also integrates relative price shocks known to play an important role in open-economies.
ElasticSearch Score: 11.607166
The author studies the macroeconomic consequences of discretionary changes in the fiscal policy instruments for Canada.
ElasticSearch Score: 11.60649
A distinguishing feature of macro stress testing exercises is the use of macroeconomic models in scenario design and implementation. It is widely agreed that scenarios should be based on "rare but plausible" events that have either resulted in vulnerabilities in the past or could do so in the future.
ElasticSearch Score: 11.605683
Surveys provide direct information on expectations, but only short histories are available at quarterly frequencies or for long-horizon expectations.
ElasticSearch Score: 11.5984335
The common-factor hypothesis is one possible explanation for the housing wealth effect. Under this hypothesis, house price appreciation is related to changes in consumption as long as the available proxies for the common driver of housing and non-housing demand are noisy and housing supply is not perfectly elastic.
ElasticSearch Score: 11.594115
The authors study the macroeconomic effects of non-zero trend inflation in a simple dynamic stochastic general-equilibrium model with sticky prices.