The responsiveness of job creation to shocks is procyclical, while the destruction countercyclical. This new finding can be explained by a heterogeneous-firm model in which hiring costs lead lumpy employment adjustment. predicts that policies aim stimulate encouraging creation, such as subsidies, are significantly less effective recessions: these times when few firms near their thresholds and m...

We provide evidence of the stock market consumption wealth effect by using a local labor analysis. An increase in driven aggregate prices increases employment and payroll nontradable industries total, with no on tradable industries. In model geographic heterogeneity wealth, these responses imply an MPC 3.2 cents per year that 20 percent valuations, unless countered monetary policy, bill at leas...

Google Econometrics and Unemployment Forecasting The current economic crisis requires fast information to predict economic behavior early, which is difficult at times of structural changes. This paper suggests an innovative new method of using data on internet activity for that purpose. It demonstrates strong correlations between keyword searches and unemployment rates using monthly German data...

The literature has suggested that financial development and electricity consumption are key determinants of economic growth. However, existing studies usually was applied the frequentist inference, which is an outdated estimator. By applying Bayesian approach via Metropolis-Hasting Gibbs samplers as MCMC methods, study aims to re-examine impact on growth in ASEAN+6 countries from 1980 2016. obt...

Earnings are riskier and more unequal for households born in the 1960s 1980s than those 1940s. Despite improvements financial conditions, younger generations less likely to be living their own homes older at same age. By using a life-cycle model with housing portfolio choice that includes flexible earnings risk aggregate asset price risk, I show changes dynamics account large part of reduction ...

This paper uses job seekers’ elicited beliefs about finding to disentangle the sources of decline in job-finding rates by duration unemployment. We document that have strong predictive power for finding, but are not revised downward when remaining unemployed and subject optimistic bias, especially long-term unemployed. Leveraging beliefs, we find substantial heterogeneity with resulting dynamic...

Radial glia are integral components of the developing neocortex. During corticogenesis, they form an important scaffold for neurons migrating into the cortical plate. Recent attention has focused on neuregulin (NRG1), acting through erbB receptors, in maintaining their morphology. We developed a model of developmental radial glial disruption by delivering an antimitotic [methylazoxy methanol (M...

This paper studies wage setting in a directed search model of multiworker firms facing within-firm equity constraints on wages. The reduce wages, as exploit their monopsony power over existing workers, rendering wages less responsive to productivity doing so. They also give rise time inconsistency the dynamic firm problem, face elastic labor supply short run than long run, making commitment fut...

Using computer-guided homology modeling method, the 3-D structure of the Fv fragment of a functional anti-IgE antibody (MAE11) was constructed and the spatial structure of E24-MAE11 complex was modeled based on the crystal structure of IgE-Fc (abbr. E24) and molecular docking method. Then the identified epitope of IgE was determined theoretically, which showed the key role of IgE-Cɛ3 in interac...