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Team Kommunikation
Intel-Chef Gelsinger geht, Verunsicherung in Magdeburg bleibtReint GroppMDR.de, 4. Dezember 2024
We investigate whether pre-publication revisions of bank financial statements contain information about financial stability.
We measure workers’ beliefs about rents and outside options in a representative sample of German workers, and compare these beliefs with proxies for actual outside options. While subjective worker rents are large - 14% of salary on average - they do not stem from workers’ subjective wage premia at their current firm, but are entirely derived from non-wage amenities.
An active debate has centered on the importance of manufacturing for driving innovation in the U.S. economy. This paper offers an alternative framework that focuses on the role of suppliers of goods and services (the “supply chain economy”) in national performance.
We use a general equilibrium model to show that a decrease in workers' bargaining power amplifies the relative contribution to the output gap of adjustments along the extensive margin of labour utilization. This mechanism reduces the cyclical movements of marginal cost (and inflation) relative to those of the output gap.
We use firm-level data to analyze international bond issuance by Chinese non-financial corporations, distinguishing those by sectors classed as ‘risky’.
We study climate and macroprudential policies in an economy with financial frictions. Using a dynamic stochastic general equilibrium model featuring both a pollution market failure and a market failure in the financial sector, we explore transition risk – whether ambitious climate policy can lead to macroeconomic instability.
Risky firms just above the investment-grade rating cutoff face the prospect of becoming “fallen angels” upon a downgrade.
