Product market deregulation and the U.S. employment miracle (2008)
Ebell, Monique, Haefke, Christian
We consider the dynamic relationship between product market entry regulation and equilibrium unemployment. The main theoretical contribution is combining a job matching model with monopolistic...
Product market deregulation and the U.S. employment miracle (2008)
Ebell, Monique, Haefke, Christian
We consider the dynamic relationship between product market entry regulation and equilibrium unemployment. The main theoretical contribution is combining a job matching model with monopolistic...
SHOCKS AND INSTITUTIONS IN A JOB MATCHING MODEL (2007)
ABSTRACT. This paper explains the divergent behavior of European and US unemployment rates using a job market matching model of the labor market with an interaction between shocks and institutions....
Andreas Gottschling, Christian Haefke, Halbert White
Many economic and econometric applications require the integration of functions lacking a closed form antiderivative, which is therefore a task that can only be solved by numerical methods. We...
Patrice Bertail, Christian Haefke, Dimitris N. Politis, Halbert White
A subsampling approach to estimating the distribution of diverging statistics with applications to assessing nancial market risks
European Unemployment and Turbulence (2007)
Revisited In Matching, Lars Ljungqvist, Thomas J. Sargent, Christian Haefke
We recalibrate den Haan, Haefke, and Ramey's matching model to capture our preferred specification of `turbulence', modelled in terms of the transition dynamics of human capital after...
Wage Rigidity and Job Creation (2007)
Haefke, Christian, Sonntag, Marcus, Rens, Thijs Van
Shimer (2005) and Hall (2005) have documented the failure of standard labor market search models to match business cycle fluctuations in employment and unemployment. They argue that it is likely that...
Endogenous Labor Market Participation and the Business Cycle (2006)
Haefke, Christian, Reiter, Michael
Existing models of equilibrium unemployment with endogenous labor market participation are complex, generate procyclical unemployment rates and cannot match unemployment variability relative to GDP....
Product Market Deregulation and the U.S. Employment Miracle (2006)
Ebell, Monique, Haefke, Christian
We consider the dynamic relationship between product market entry regulation and equilibrium unemployment. The main theoretical contribution is combining a job matching model with monopolistic...
Product Market Deregulation and the U.S. Employment Miracle (2006)
Ebell, Monique, Haefke, Christian
We consider the dynamic relationship between product market entry regulation and equilibrium unemployment. The main theoretical contribution is combining a job matching model with monopolistic...
Endogenous Labor Market Participation and the Business Cycle (2006)
Haefke, Christian, Reiter, Michael
Existing models of equilibrium unemployment with endogenous labor market participation are complex, generate procyclical unemployment rates and cannot match unemployment variability relative to GDP....
Keywords: Monetary Policy, Unions, Inflation. (2005)
Stefano Gnocchi, Christian Haefke, Michael Reiter, Alessia Campolmi, Chiara Forlati For
The purpose of the paper is to study the monetary policy implications of unionized labor markets in a New Keynesian framework. It is shown that, once the presence of large wage setters is taken into...
Turbulence and Unemployment in a Job Matching Model (2004)
Wouter, J. Den Haan, Haefke, Christian, Ramey, Garey
According to Ljungqvist and Sargent (1998), high European unemployment since the 1980s can be explained by a rise in economic turbulence, leading to greater numbers of unemployed workers with...
Product Market Deregulation and Labor Market Outcomes (2002)
Ebell, Monique Caroline, Haefke, Christian
We consider the dynamic relationship between product market entry regulation and equilibrium unemployment. The main theoretical contribution is combining a Mortensen-Pissarides model with...
Product Market Deregulation and the U.S. Employment Miracle (2002)
Ebell, Monique Caroline, Haefke, Christian
The paper by Corsetti et al. in this volume studies how the presence of large investors affects the nature of currency crises. Its motivation is the alleged prominent role that some hedge funds and...
Giacomini, Raffaella, Haefke, Christian, White, Halbert, Gottschling, Andreas
We propose a new family of density function that posses both flexibility and closed form expressions for moments and anti-derivatives, making them particularly appealing for applications. We...
Giacomini, Raffaella, Gottschling, Andreas, Haefke, Christian, White, Halbert
We derive a new family of probability densities that have the property of closed-form integrability. This flexible family finds a variety of applications, of which we illustrate density forecasting...
Giacomini, Raffaella, Gottschling, Andreas Peter, Haefke, Christian, White, Halbert
We propose a new family of density functions that possess both flexibility and closed form expressions for moments and anti-derivatives, making them particularly appealing for applications. We...
Bertail, Patrice, Haefke, Christian, Politis, Dimitris N., White, Halbert
In this paper we propose a subsampling estimator for the distribution of statistics diverging at either known rates when the underlying time series in strictly stationary abd strong mixing. Based on...
Shocks and Institutions in a Job Matching Model (2001)
Den Haan, Wouter J., Haefke, Christian, Ramey, Garey
This paper explains the divergent behavior of European and US unemployment rates using a job market model of the labor market with an interaction between shocks and institutions. It shows that a...
Shocks and Institutions in a Job Matching Model (2001)
This paper explains the divergent behavior of European an US unemployment rates using a job market matching model of the labor market with an interaction between shocks an institutions. It shows that...
Bertail, Patrice, Haefke, Christian, Politis, D N, White, Halbert
In this paper we propose a subsampling estimator for the distribution of statistics diverging at either known or unknown rates when the underlying time series is strictly stationary and strong...
Closed Form Integration of Artificial Neural Networks with Some Applications to Finance (1999)
Gottschling, Andreas, Haefke, Christian, White, Halbert
Many economic and econometric applications require the integration of functions lacking a closed form antiderivative, which is therefore a task that can only be solved by numerical methods. We...
Closed Form Integration of Artificial Neural Networks With Some Applications to Finance (1999)
Andreas Gottschling, Christian Haefke, Halbert White
Many economic and econometric applications require the integration of functions lacking a closed form antiderivative, which is therefore a task that can only be solved by numerical methods. We...
Empirical Regularities and the Forecasting of Industrial Production (1995)
Tarun Soni, Heinrich Otruba, Martin Natter, Christian Haefke
We forecast US Industrial Production growth rates as available through the IFSdatabase. We compare the predictions of Elman-Networks to those of Kalman Filters, Weighted Recursive LS, and OLS. The...
Can Neural Networks Capture Stylized Facts in Macroeconomic Time Series? (1995)
Tarun Soni, Heinrich Otruba, Christian Haefke, Martin Natter
Recently, the application of statistical error measures such as MSE or Theil's U has been criticized by Leitch and Tanner (1991) who argue that these criteria fail to capture a forecast's...
Endogenous Labor Market Participation and the Business Cycle
Christian Haefke, Michael Reiter
Existing models of equilibrium unemployment with endogenous labor market participation are complex, generate procyclical unemployment rates and cannot match unemployment variability relative to GDP....
Product Market Deregulation and the U.S. Employment Miracle
Monique Ebell, Christian Haefke
We consider the dynamic relationship between product market entry regulation and equilibrium unemployment. The main theoretical contribution is combining a job matching model with monopolistic...
Turbulence and Unemployment in a Job Matching Model
Den Haan, Wouter J., Haefke, Christian, Ramey, Garey
According to Ljungqvist and Sargent (1998), high European unemployment since the 1980s can be explained by a rise in economic turbulence, leading to greater numbers of unemployed workers with...
Turbulence And Unemployment In A Job Matching Model
According to Ljungqvist and Sargent (1998), high European unemployment since the 1980s can be explained by a rise in economic turbulence, leading to greater numbers of unemployed workers with...
Product Market Regulation and Endogenous Union Formation
Monique Ebell, Christian Haefke
We contribute to the growing literature which aims to link product market regulation and competition to labor market outcomes, in an attempt to explain the divergent US and continental European labor...
Forecasting Austrian IPOs: An Application of Linear and Neural Network Error-Correction Models
Haefke, Christian, Helmenstein, Christian
In this paper we apply cointegration and Granger-causality analyses to construct linear and neural network error-correction models for an Austrian Initial Public Offerings IndeX (IPOXATX). We use the...
Prediction Risk and the Forecasting of Stock Market Indexes
Haefke, Christian, Helmenstein, Christian
In most of the empirical research on capital markets, stock market indexes are used as proxies for the aggregate market development. In previous work we found that a particular market segment might...
Forecasting Stock Market Averages to Enhance Profitable Trading Strategies
Haefke, Christian, Helmenstein, Christian
In this paper we design a simple trading strategy to exploit the hypothesized distinct informational content of the arithmetic and geometric mean. The rejection of cointegration between the two stock...
Endogenous Labor Market Participation and the Business Cycle
Christian Haefke, Michael Reiter
Existing models of equilibrium unemployment with endogenous labor market participation are complex, generate procyclical unemployment rates, and suffer from the usual defects of matching models. We...
Mixtures of t-distributions for Finance and Forecasting
Giacomini, Raffaella, Gottschling, Andreas, Haefke, Christian, White, Halbert
We explore convenient analytic properties of distributions constructed as mixtures of scaled and shifted t-distributions. A feature that makes this family particularly desirable for econometric...
Forecasting Stock Market Averages to Enhance Profitable Trading Strategies
Christian Haefke, Christian Helmenstein
In this paper we design a simple trading strategy to exploit the hypothesized distinct informational content of the arithmetic and geometric mean. The rejection of cointegration between the two stock...
CLOSED FORM INTEGRATION OF ARTIFICIAL NEURAL NETWORKS WITH SOME APPLICATIONS TO FINANCE
Christian Haefke, Halbert White, Andreas Gottschling
Many economic and econometric applications require the integration of functions lacking a closed form antiderivative, which is therefore a task that can only be solved by numerical methods. We...
Product Market Deregulation and Labor Market Outcomes
Ebell, Monique, Haefke, Christian
Recently, the interactions between product market structure and labor market outcomes have come under increased scrutiny. This paper considers the dynamic relationship between product market entry...
Product Market Deregulation and the U.S. Employment Miracle
Monique Ebell, Christian Haefke
We consider the dynamic relationship between product market entry regulation and equilibrium unemployment. The main theoretical contribution is combining a job matching model with monopolistic...
Projections Parameterized Expectations Algorithms (Fortran)
These programs use the techniques described in Ken Judd's 1992 "Journal of Economic Theory" article to solve the standard growth model using parameterized expectations. Another good reference for the...
Closed Form Integration of Artificial Neural Networks with Some Applications to Finance
Andreas Gottschling, Christian Haefke, Halbert White
Many economic and econometric applications require the integration of functions lacking a closed form antiderivative, which is therefore a task that can only be solved by numerical methods. We...
Multivariate Hypernormal Densities
Andreas Gottschling, Christian Haefke
The recently proposed family of hypernormal density functions possess the analytically convenient and computationally efficient property of closed form moments and anti-derivatives in the univariate...
Monetary Policy and Labor Market Institutions
In this paper we study how differences in labor market institutions affect the impact of monetary policy on real activity for the U.S. and European countries. We model real shocks as changes in the...
Turbulence and Unemployment in a Job Matching Model
Den Haan, Wouter, Haefke, Christian, Ramey, Gary
According to Ljungqvist and Sargent (1998), high European unemployment since the 1980s can be explained by a rise in economic turbulence, leading to greater numbers of unemployed workers with...
Neural Networks in the Capital Markets: An Application to Index Forecasting.
Haefke, Christian, Helmenstein, Christian
In this article we construct an Index of Austrian Initial Public Offerings (IPOX) which is isomorph to the Austrian Traded Index (ATX). Conjecturing that the ATX qualifies as an explaining variable...
Christian Haefke, Monique Ebell
We examine product market regulation as an explanation for divergent US and continental European labor market performance. First, we show that the choice of bargaining regime is crucial for the...
Wage Rigidity and Job Creation
Christian Haefke, Marcus Sonntag, Thijs Van Rens
Shimer (2005) and Hall (2005) have documented the failure of standard labor market search models to match business cycle fluctuations in employment and unemployment. They argue that it is likely that...
Raffaella Giacomini, Andreas Gottschling, Christian Haefke, Halbert White
We derive a new family of probability densities that have the property of closed-form integrability. This flexible family finds a variety of applications, of which we illustrate density forecasting...
Projections Parameterized Expectations Algorithms (Gauss)
These programs use the techniques described in Ken Judd's 1992 "Journal of Economic Theory" article to solve the standard growth model using parameterized expectations. Another good reference for the...
Projections Parameterized Expectations Algorithms (Matlab)
These programs use the techniques described in Ken Judd's 1992 "Journal of Economic Theory" article to solve the standard growth model using parameterized expectations. Another good reference for the...
Raffaella Giacomini, Christian Haefke, Halbert White, Andreas Gottschling
We propose a new family of density function that posses both flexibility and closed form expressions for moments and anti-derivatives, making them particularly appealing for applications. We...
Shocks and Institutions in a Job Matching Model
Wouter Den Haan, Christian Haefke, Garey Ramey
This paper explains the divergent behavior of European and US unemployment rates using a job market model of the labor market with an interaction between shocks and institutions. It shows that a...
Patrice Bertail, Christian Haefke, D Politis, Halbert White
In this paper we propose a subsampling estimator for the distribution of statistics diverging at either known or unknown rates when the underlying time series is strictly stationary and strong...
Closed Form Integration of Artificial Neural Networks with Some Applications to Finance
Andreas Gottschling, Christian Haefke, Halbert White
Many economic and econometric applications require the integration of functions lacking a closed form antiderivative, which is therefore a task that can only be solved by numerical methods. We...
Shocks and Institutions in a Job Matching Model
Den Haan, Wouter, Haefke, Christian, Ramey, Gary
This Paper explains the divergent behaviour of European and US unemployment rates using a job market-matching model of the labour market with an interaction between shocks and institutions. It shows...
Product Market Deregulation and Labor Market Outcomes
Monique Ebell, Christian Haefke
Recently, the interactions between product market structure and labor market outcomes have come under increased scrutiny. This paper considers the dynamic relationship between product market...
Shocks and Institutions in a Job Matching Model
This paper explains the divergent behavior of European an US unemployment rates using a job market matching model of the labor market with an interaction between shocks an institutions. It shows that...
Patrice Bertail, Christian Haefke, Dimitris N. Politis, Halbert White
In this paper we propose a subsampling estimator for the distribution of statistics diverging at either known rates when the underlying time series in strictly stationary abd strong mixing. Based on...
Raffaella Giacomini, Andreas Gottschling, Christian Haefke, Halbert White
We propose a new family of density functions that possess both flexibility and closed form expressions for moments and anti-derivatives, making them particularly appealing for applications. We...
Product Market Deregulation and Labor Market Outcomes
Monique Ebell, Christian Haefke
We consider the dynamic relationship between product market entry regulation and equilibrium unemployment. The main theoretical contribution is combining a Mortensen-Pissarides model with...
Turbulence and Unemployment in a Job Matching Model
According to Ljungqvist and Sargent (1998), high European unemployment since the 1980s can be explained by a rise in economic turbulence, leading to greater numbers of unemployed workers with...
Endogenous Labor Market Participation and the Business Cycle
Christian Haefke, Michael Reiter
Existing models of equilibrium unemployment with endogenous labor market participation are complex, generate procyclical unemployment rates and cannot match unemployment variability relative to GDP....
Wage Rigidity and Job Creation
Christian Haefke, Marcus Sonntag, Thijs Van Rens
Shimer (2005) and Hall (2005) have documented the failure of standard labor market search models to match business cycle fluctuations in employment and unemployment. They argue that it is likely that...
Product Market Deregulation and the U.S. Employment Miracle
Ebell, Monique, Haefke, Christian
We consider the dynamic relationship between product market entry regulation and equilibrium unemployment. The main theoretical contribution is combining a job matching model with monopolistic...
Product Market Deregulation and the U.S. Employment Miracle
Monique Ebell, Christian Haefke
We consider the dynamic relationship between product market entry regulation andequilibrium unemployment. The main theoretical contribution is combining a job matchingmodel with monopolistic...
Closed Form Integration of Artificial Neural Networks with Some Applications to Finance
Andreas Gottschling, Christian Haefke, Halbert White
Many economic and econometric applications require the integration of functions lacking a closed form antiderivative, which is therefore a task that can only be solved by numerical methods. We...
Mixtures of t-distributions for finance and forecasting
Giacomini, Raffaella, Gottschling, Andreas, Haefke, Christian, White, Halbert
We explore convenient analytic properties of distributions constructed as mixtures of scaled and shifted t-distributions. Particularly desirable for econometric applications are closed-form...
Verflechtungen in der österreichischen Außenwirtschaft
Bernhard Felderer, Günther Grohall, Christian Haefke, Ulrich Schuh, Edith Skriner
Die Analyse (mit einem "Constant Market Shares" Modell) über die Wettbewerbsfähigkeit und Struktur hat ergeben, dass sich in der österreichischen Außenwirtschaft mit Gütern in den vergangenen...
Shocks and Institutions in a Job Matching Model
Wouter Den Haan, Christian Haefke, Garey Ramey
This paper explains the divergent behavior of European and US unemployment rates using a job market matching model of the labor market with an interaction between shocks and institutions. It shows...
Code and data files for "Product Market Deregulation and the U.S. Employtment Miracle"
Christian Haefke, Monique Ebell
Matlab code to replicate results in tables 5-11 and figures 4-9.
Product Market Deregulation and the U.S. Employment Miracle
Monique Ebell, Christian Haefke
We consider the dynamic relationship between product market entry regulation and equilibrium unemployment. The main theoretical contribution is combining a job matching model with monopolistic...
Wage Rigidity and Job Creation
Christian Haefke, Marcus Sonntag, Thijs Van Rens
Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume wages are rigid. We explore whether this explanation is consistent with the...
Verflechtungen in der österreichischen Außenwirtschaft
Bernhard Felderer, Günther Grohall, Christian Haefke, Ulrich Schuh, Edith Skriner
Die Analyse (mit einem "Constant Market Shares" Modell) über die Wettbewerbsfähigkeit und Struktur hat ergeben, dass sich in der österreichischen Außenwirtschaft mit Gütern in den vergangenen...