Propagation of idiosyncratic shocksAggregateFirmsProductivitySystemicFinancial ShocksEvidencePersistentDrug reactionsMitigateEstimationEstablishmentsSeptic ShockMacroeconomicDynamicsHypersensitivityWagesLiverDemandRobustLargeSupplyModelRiskOccursEconomicsStructuralInvestmentReduced-formGlobalVersionOfferEffectGrowthFutureTypes
Propagation of idiosyncratic shocks2
- They provide evidence that ETFs facilitate propagation of idiosyncratic shocks across its constituents. (cerge-ei.cz)
- Estimation biases are corrected using the model's restrictions on the partial equilibrium propagation of idiosyncratic shocks. (einpresswire.com)
Aggregate9
- We find that the aggregate labour supply elasticity to a transitory wage shock is 1.75, with the extensive margin accounting for 62% of the response. (repec.org)
- Shocks that affect the degree of efficiency of the financial system in allocating private savings to productive needs can have large effects on capital accumulation and aggregate activity. (federalreserve.gov)
- We find that equilibrium aggregate production is robust to idiosyncratic disruptions. (google.com)
- In order to understand what drives aggregate fluctuations, many macroeconomic models point to aggregate shocks and discount the contribution of firm-specific shocks. (bankofcanada.ca)
- Recent research from other developed countries, however, has found that aggregate fluctuations are in part driven by idiosyncratic shocks to large firms. (bankofcanada.ca)
- Based on micro-level data from the Home Mortgage Disclosure Act for the 1990-2016 period, our results suggest that lender-specific mortgage supply shocks affect aggregate mortgage, house price, and employment dynamics at the regional level. (iwh-halle.de)
- We consider a standard banking model with aggregate return risk, aggregate liquidity risk and idiosyncratic liquidity shocks. (cepr.org)
- A novel contribution of the paper is the analysis of the general equilibrium dynamics arising from aggregate productivity shocks. (repec.org)
- Do Shocks to Intermediaries' Balance Sheet Impact Aggregate Risk Premium? (umn.edu)
Firms3
- It is shown that idiosyncratic shocks to very large firms played a decisive role in shaping the export collapse. (degruyter.com)
- We develop a model in which firms with idiosyncratic productivity can borrow from two types of banks-local or national-to finance working capital. (frbsf.org)
- This paper studies the effect of shocks to firms' internal resources on business success. (umn.edu)
Productivity3
- We study a model of lumpy investment wherein establishments face persistent shocks to common and plant‐specific productivity, and nonconvex adjustment costs lead them to pursue generalized (, ) investment rules. (econometricsociety.org)
- I find that idiosyncratic weather quality increases publication and citation rates for novice astronomers, but does not affect the productivity of veteran astronomers. (northwestern.edu)
- Receiving a good weather shock has no detectable effect on long-run productivity or the probability of staying in academia. (northwestern.edu)
Systemic2
- Nevertheless, there is a regime in which arbitrarily small systemic shocks cause arbitrarily steep drops in output, so that the the supply network is fragile. (google.com)
- In the finance world, idiosyncratic and systemic risk follow the same principle. (umd.edu)
Financial Shocks1
- I assume that these intermediation costs vary exogenously over time and interpret these disturbances as financial shocks. (federalreserve.gov)
Evidence1
- This paper provides evidence for the propagation of idiosyncratic mortgage supply shocks to the macroeconomy. (iwh-halle.de)
Persistent2
- On the contrary, persistent global shocks imply that the firm anchoring of inflation expectations has become more important than ever. (europa.eu)
- A key assumption is that these shocks follow a persistent stochastic process over time. (chicagofed.org)
Drug reactions3
- Idiosyncratic drug reactions occur rarely and unpredictably amongst drug users. (helsinki.fi)
- Inflammation and liver damage can sensitize to idiosyncratic drug reactions. (helsinki.fi)
- Approximately 75% of the idiosyncratic drug reactions result in liver transplantation or death. (medscape.com)
Mitigate3
- Seasonality is obvious in the nature but it becomes a problem for those individuals who are heavily dependent on it and they don't have any other buffering system to mitigate this shock such as savings, credit and social security. (uni-muenchen.de)
- Marginalized households face seasonality every year and they lose their valuable assets to mitigate the adverse effect of natural calamities and idiosyncratic shocks. (uni-muenchen.de)
- Regardless of whether something is robust or resilient, different buffers or redundancies are required to help mitigate shocks. (umd.edu)
Estimation3
- According to the model estimation, exogenous shocks to the intermediation spread explain 35% of GDP and 60% of investment volatility. (federalreserve.gov)
- The estimation results show that approximately 35% of the variance of output and 60% of the variance of investment can be explained by financial intermediation shocks. (federalreserve.gov)
- 0) is specified, the command assumes heteroskedastic and serially correlated idiosyncratic shocks, and chooses the truncation lag used in the estimation of the long run variance. (bc.edu)
Establishments1
- This is a difficult task given the high dimensionality of the state vector, which includes the distribution of establishments across capital levels and idiosyncratic shocks. (repec.org)
Septic Shock2
- Sepsis and Septic Shock Sepsis is a clinical syndrome of life-threatening organ dysfunction caused by a dysregulated response to infection. (msdmanuals.com)
- Trish M. Perl, MD, MSc and would lead to septic shock with high mortality without early treatment. (cdc.gov)
Macroeconomic2
- I use Bayesian methods, as in ( Smets & Wouters, 2007 ) and ( An & Schorfheide, 2007 ) to estimate a log-linearized version of the model buffeted by a series of random disturbances, including the financial intermediation shock, on a sample of US macroeconomic time series that spans from 1989 to 2010. (federalreserve.gov)
- Following a large recessionary shock, a targeted RR policy that reduces RR for local banks relative to national banks can lower costs of switching lenders, stabilizing macroeconomic fluctuations. (frbsf.org)
Dynamics1
- While shocks at the level of shadow banks significantly affect mortgage and house price dynamics, too, they do not matter much for employment. (iwh-halle.de)
Hypersensitivity1
- Idiosyncratic drug reaction denotes a non-immunological hypersensitivity to a substance unrelated to drug toxicity. (helsinki.fi)
Wages2
- Specifically, we construct a life cycle model that features some key determinants of wages--most notably, human capital accumulation and idiosyncratic shocks. (federalreserve.gov)
- Differently from KM, I assume that prices and wages are sticky and show that this feature of the model is key for the financial shock to generate procyclical movements in labor inputs, consumption and investment. (federalreserve.gov)
Liver1
- In the United States, approximately 2000 cases of acute liver failure occur annually and drugs account for over 50% of them (39% are due to acetaminophen, 13% are idiosyncratic reactions due to other medications). (medscape.com)
Demand3
- In the euro area, the strong surge in selling prices has mitigated the impact of the adverse terms-of-trade shock from higher commodity prices and has boosted corporate profits in sectors most heavily exposed to global demand. (europa.eu)
- to two important demand shocks that are identifiable in empirical settings. (duke.edu)
- Inflationary shocks such as Russia's invasion of Ukraine have almost always led to deflation through the subsequent supply response and the slowing of demand. (troweprice.com)
Robust1
Large3
- CLOs' overlapping loan holdings spread idiosyncratic shocks to large borrowers to the overall leveraged loan market. (ssrn.com)
- However, when the stochastic shocks follow a stochastic process that closely resembles a random walk and there is a constant Frisch elasticity of labor supply I find large quantitative effects of the information frictions in a calibrated version of the model: output, investment, consumption, capital, and labor are all 9.5% lower in the steady-state of the private information economy compared to the full information case. (chicagofed.org)
- Relationship banking is modeled in terms of a fixed cost of switching lenders, and banks choose to switch only under sufficiently large shocks. (frbsf.org)
Supply4
- Individual supply relationships are at risk of idiosyncratic failure, which threatens to disrupt production. (google.com)
- The endogenous configuration of supply networks provides a new channel for the powerful amplification of shocks. (google.com)
- I consider a neoclassical growth model with endogenous labor supply in which agents have private information about their idiosyncratic value of leisure. (chicagofed.org)
- The continuous depletion of nonrenewable natural resources and climate change may lead to a future characterized by a higher frequency of extreme natural events (i.e., flooding, hurricanes, and droughts) and resource supply shocks (i.e., oil price shock). (mdpi.com)
Model3
- In the model, from the very early ages the rich spend more in preventive health to expand their life expectancy, which leads to milder health shocks (and lower curative medical expenditures) for them in old age compared to the poor. (stlouisfed.org)
- This study investigates the impact of two contemporaneous covariant sudden shocks (i.e., drought and price oil shock) and the possible coping strategies through a static computable general equilibrium (CGE) model for Kenya. (mdpi.com)
- A model featuring sectoral NKPCs subject to a rich set of shocks is constructed. (einpresswire.com)
Risk1
- An interbank market allows the sharing of idiosyncratic liquidity risk. (cepr.org)
Occurs2
- In my theoretical framework, trading of financial assets occurs through banks and exogenous shocks can affect the financial intermediation technology. (federalreserve.gov)
- And when one shock occurs, it's rarely alone, Brunnermeier explained during the event - which is why resisting them at all is a futile endeavor. (umd.edu)
Economics1
- This challenge has been met by a number of papers in the economics literature, which exploit major shocks to early-life health in the forms of famine and epidemics. (lu.se)
Structural1
- Necessary and sufficient conditions on the structural parameters are provided to allow sectoral idiosyncratic components to be linearly extracted. (einpresswire.com)
Investment2
- How Much Do Idiosyncratic Bank Shocks Affect Investment? (wikipedia.org)
- I find that financial sector shocks account for 35% and 60% of output and investment volatility, respectively. (federalreserve.gov)
Reduced-form1
- The default, i.e. not specifying horizon(#), refers to a reduced-form VAR assuming homoskedastic idiosyncratic shocks. (bc.edu)
Global1
Version1
- This idiosyncratic version of an Italian classic is blatantly ribald. (audiofilemagazine.com)
Offer2
- As opposed to withstanding a shock, Brunnermeier suggested that first giving into a shock and then bouncing back may offer the most viable road to recovery. (umd.edu)
- Idiosyncratic stocks offer solid upside potential-even in this challenging environment. (troweprice.com)
Effect1
- Using weather conditions during telescope viewing sessions, I test whether project-level shocks have a lasting effect on publication and citation rates. (northwestern.edu)
Growth2
- The larger the idiosyncratic shocks to newly issued mortgages, the stronger are mortgage, house price, and employment growth. (iwh-halle.de)
- By exploiting this "exorbitant privilege", the core countries develop policy incentives to accommodate shocks (e.g. the financing of a war) or growth models (e.g. based on over-consumption) that can ultimately be sustained only if the rest of the world unconditionally demands their own liquid, safe assets. (eurasiareview.com)
Future1
- Good weather shocks increase the number of future telescope sessions novices are awarded, suggesting that lucky breaks may improve early-career opportunities. (northwestern.edu)