کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
7356255 | 1478226 | 2013 | 24 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
AGGREGATE BUSINESS FAILURES AND MACROECONOMIC CONDITIONS: A VAR LOOK AT THE U.S. BETWEEN 1980 AND 2004
ترجمه فارسی عنوان
مزایای کسب و کارهای بزرگ و شرایط مکانی اقتصادی: نگاهی گذرا در ایالات متحده بین سال های 1980 و 2004
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
چکیده انگلیسی
In this paper, we study the U.S. aggregate business failures during 1980- 2004 in relation to four macroeconomic variables: aggregate corporate profits, the producer price index, the interest rate, and stock market performance. We argue that aggregate business failures should not be treated as a passive variable, as usually done in previous studies, and we allow its possible causal effect on other macroeconomic variables through a Structural Vector Autoregression model that builds on Directed Acyclic Graphs. Granger type causality and innovation accounting results both show that while subject to the influence of interest rates, aggregate business failures are quite exogenous in comparison to the other three variables. The implications of these findings are discussed as well.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Applied Economics - Volume 16, Issue 1, May 2013, Pages 179-202
Journal: Journal of Applied Economics - Volume 16, Issue 1, May 2013, Pages 179-202
نویسندگان
Jin Zhang, David A. Bessler, David J. Leatham,