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The case of idiosyncratic shocks

Idiosyncratic Volatility Shocks and Aggregate Fluctuations: An Appraisal of the Spanish Case

Idiosyncratic Volatility Shocks and Aggregate Fluctuations: An Appraisal of the Spanish Case

... Second, the last lag has a negative coefficient when I regress GDP growth on granular. And, finally, there is an enormous difference between R 2 and R 2 adj., in both granular residual OLS regression and granular ...

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Measuring Households' Vulnerability to Idiosyncratic and Covariate Shocks – the case of Bangladesh

Measuring Households' Vulnerability to Idiosyncratic and Covariate Shocks – the case of Bangladesh

... certain shocks and focusing on certain shocks might introduce omitted variable bias as various shocks are often highly correlated (Tesliuc and Lindert, ...of shocks as idiosyncratic or ...

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Child Labor, Idiosyncratic Shocks, and Social Policy

Child Labor, Idiosyncratic Shocks, and Social Policy

... Using the broad definition of unemployment – Kingdon & Knight (2004b) show that the measure of unemployment in South Africa may be substantially higher than the one we use if one accounts for agents who want work but ...

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Idiosyncratic Shocks, Child Labor and School Attendance in Indonesia

Idiosyncratic Shocks, Child Labor and School Attendance in Indonesia

... this case, the children are just substitute for the main breadwinner in a household at the time of adult labor supply decreases because the head of the household is sick and requires hospitalization or constant ...

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Idiosyncratic Shocks, Lumpy Investment and the Monetary Transmission Mechanism

Idiosyncratic Shocks, Lumpy Investment and the Monetary Transmission Mechanism

... between investing and not investing, which will then change behavior in response to a change in the interest rate. With larger idiosyncratic shocks, the distribution is more spread out, and the density at ...

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Idiosyncratic Shocks, Lumpy Investment and the Monetary Transmission Mechanism

Idiosyncratic Shocks, Lumpy Investment and the Monetary Transmission Mechanism

... between investing and not investing, which will then change behavior in response to a change in the interest rate. With larger idiosyncratic shocks, the distribution is more spread out, and the density at ...

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Sectoral Inflation Dynamics, Idiosyncratic Shocks and Monetary Policy

Sectoral Inflation Dynamics, Idiosyncratic Shocks and Monetary Policy

... Although we find no price puzzle at the aggregate level, there is a substantial amount of heterogeneity in the responses of disaggregate prices. Therefore, we look at the responses of individual CPI items aggregated to ...

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Optimal Fiscal Policy in a Model with Uninsurable Idiosyncratic Shocks

Optimal Fiscal Policy in a Model with Uninsurable Idiosyncratic Shocks

... Once again, there is no reason to distort labor decisions since labor income is certain and the same for all agents. However, the path of capital taxes differs from the representative agent ones. Proposition 2 provides a ...

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Constrained efficiency in the neoclassical growth model with uninsurable idiosyncratic shocks

Constrained efficiency in the neoclassical growth model with uninsurable idiosyncratic shocks

... Abstract We investigate the welfare properties of the one-sector neoclassic growth model with uninsurable idiosyncratic shocks. We focus on the constrained efficiency notion of the general equilibrium ...

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Cross-sectoral variation in the volatility of plant-level idiosyncratic shocks

Cross-sectoral variation in the volatility of plant-level idiosyncratic shocks

... how idiosyncratic risk varies across industries is important because the cross–sectoral heterogeneity in risk, when interacted with other features of the economic environment, often generates restrictions on the ...

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A note on risk sharing against idiosyncratic shocks and geographic mobility in Japan

A note on risk sharing against idiosyncratic shocks and geographic mobility in Japan

... 5 Conclusion In this study, we show that the full insurance hypothesis is rejected in the case of Japan. Geographic mobility from rural to urban areas results in a decline in the consumption growth with ...

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Remittances as insurance for idiosyncratic and covariate shocks in Malawi: The importance of distance and relationship

Remittances as insurance for idiosyncratic and covariate shocks in Malawi: The importance of distance and relationship

... the case that the son remits to safeguard inheritance, while village remittances act as income pooling in order to reduce the risk from idiosyncratic ...insure shocks; and to those attempting to ...

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Identification of common and idiosyncratic shocks in real equity prices: Australia 1982 to 2002

Identification of common and idiosyncratic shocks in real equity prices: Australia 1982 to 2002

... exogenous shocks can cause output and equity markets to move in the same ...rate shocks is consistent particularly with ...output shocks is positive in Blanchard because, for example, an exogenous ...

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Idiosyncratic Shocks and Child Labor: Does Gender Matter? Evidence From Indonesia

Idiosyncratic Shocks and Child Labor: Does Gender Matter? Evidence From Indonesia

... of idiosyncratic shocks is unpredictable and of transitory nature so that the resulting estimates are not biased (Beegle, Dehejia & Gatti, ...aggregate shocks, such as the economic crisis in ...

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Common and idiosyncratic shocks to labor productivity across sectors and countries: Is climate relevant?

Common and idiosyncratic shocks to labor productivity across sectors and countries: Is climate relevant?

... the idiosyncratic component. In this case, we adopt the pooled test proposed by Maddala and Wu (1999), which uses the observed significance levels (p-values) of the ADF test on each unit of the ...an ...

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IDIOSYNCRATIC SHOCKS AND ASSET RETURNS IN THE REAL-BUSINESS-CYCLE MODEL: AN APPROXIMATE ANALYTICAL APPROACH

IDIOSYNCRATIC SHOCKS AND ASSET RETURNS IN THE REAL-BUSINESS-CYCLE MODEL: AN APPROXIMATE ANALYTICAL APPROACH

... of idiosyncratic shocks to explain the different asset ...which case the unconstrained household uniquely determines the implied price of the nontraded ...

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The Welfare Gains from Stabilization in a Stochastically Growing Economy with Idiosyncratic Shocks and Flexible Labor Supply

The Welfare Gains from Stabilization in a Stochastically Growing Economy with Idiosyncratic Shocks and Flexible Labor Supply

... plausible case where γ < 0 , an increase in either source of risk will reduce the consumption to capital ratio, increase the time devoted to labor (reduce l) and thus raise the productivity of capital, its growth ...

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Aggregate Shocks, Idiosyncratic Shocks and Global Imbalances

Aggregate Shocks, Idiosyncratic Shocks and Global Imbalances

... the shocks, but also, by the per- sistence parameters a and z , and agents’preferences parameters, in particular by the risk aversion parameter ...in idiosyncratic volatility in Japan depend crucially on ...

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Households' Vulnerability to Covariate and Idiosyncratic Shocks

Households' Vulnerability to Covariate and Idiosyncratic Shocks

... by idiosyncratic and covariate ...of shocks. Information on idiosyn- cratic and covariate shocks is therefore in most data sets either completely missing or very ...selected shocks on ...

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Estimating Vulnerability to Covariate and Idiosyncratic Shocks

Estimating Vulnerability to Covariate and Idiosyncratic Shocks

... The first strand of literature, which intends to estimate the aggregate vulnerability of households, has been pioneered by Townsend (1994) and Udry (1995), who were some of the first using panel data to analyze whether ...

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