Most widely held works by Ulrich Woitek
Business cycles : an international comparison of stylized facts in a historical perspective by Ulrich Woitek ( Book )
6 editions published in 1997 in English and held by 124 libraries worldwide
Did monetary forces cause the Great Depression? : a bayesian VAR analysis for the US economy by Albrecht Ritschl ( Book )
4 editions published in 2000 in English and No Linguistic content and held by 24 libraries worldwide
Business cycles : an international comparison of stylized facts in a historical perspective : with 45 tables by Ulrich Woitek ( Book )
2 editions published between 1996 and 1997 in German and English and held by 24 libraries worldwide
Qualifying religion the role of plural identities for educational production ( )
3 editions published in 2008 in English and held by 23 libraries worldwide
This paper examines the role of religious denomination for human capital formation. We employ a unique data set which covers, inter alia, information on numerous measures of school inputs in 169 Swiss districts for the years 1871/72, 1881/82, and 1894/95, marks from pedagogical examinations of conscripts (1875-1903), and results from political referenda to capture conservative or progressive values in addition to the cultural characteristics language and religion. Catholic districts show on average significantly lower educational performance than Protestant districts. However, accounting for other sociocultural characteristics qualifies the role of religion for educational production. The evidence suggests that Catholicism is harmful only in a conservative milieu. We also exploit information on absenteeism of pupils from school to separate provision of schooling from use of schooling.
Real wages and the cycle : the view from the frequency domain by Robert A Hart ( Book )
8 editions published in 2001 in English and held by 18 libraries worldwide
In the time domain, the observed cyclical behavior of the real wage hides a range of economic influences that give rise to cycles of differing lengths and amplitudes. This may serve to produce a distorted picture of wage cyclicality. Here, we employ frequency domain methods that allow us decompose wages into cyclical components and to assess the relative contribution of each component. These are discussed in relation to wages alone (the univariate case) and to wages in relation to production or employment-based measures of the cycle (multivariate). In the multivariate dimension, we derive methods for determining whether (i) wage and business cycles cohere (ii) lead-lag or contemporaneous relationships exist and (iii) the degree of coherency between wage and business cycles is time dependent. We establish that real wages are strongly procyclical and that the business cycle is the dominant associated influence.
Does conservatism matter? : a time series approach to central banking by Helge Berger ( Book )
8 editions published between 1998 and 1999 in English and held by 17 libraries worldwide
Electoral uncertainty, fiscal policy and macroeconomic fluctuations by Jim Malley ( Book )
5 editions published in 2005 in English and held by 12 libraries worldwide
In this paper we study the link between elections, fiscal policy and aggregate fluctuations. The set-up is a stylized dynamic stochastic general equilibrium model incorporating both technology and political re-election shocks. The later are incorporated via a two-party model with elections. The main theoretical prediction is that forward-looking incumbents, with uncertain prospects of re-election, find it optimal to follow relatively shortsighted fiscal policies, and that this hurts capital accumulation. Our econometric estimation, using U.S. data, finds a statistically significant link between electoral uncertainty and policy instruments and in turn macroeconomic outcomes.
Technology shocks and aggregate fluctuations in an estimated hybrid RBC model by James R Malley ( Book )
4 editions published in 2009 in English and held by 11 libraries worldwide
This paper contributes to the on-going empirical debate regarding the role of the RBC model and in particular of technology shocks in explaining aggregate fluctuations. To this end we estimate the model's posterior density using Markov-Chain Monte-Carlo (MCMC) methods. Within this framework we extend Ireland's (2001, 2004) hybrid estimation approach to allow for a vector autoregressive moving average (VARMA) process to describe the movements and co-movements of the model's errors not explained by the basic RBC model. The results of marginal likelihood ratio tests reveal that the more general model of the errors significantly improves the model's fit relative to the VAR and AR alternatives. Moreover, despite setting the RBC model a more difficult task under the VARMA specification, our analysis, based on forecast error and spectral decompositions, suggests that the RBC model is still capable of explaining a significant fraction of the observed variation in macroeconomic aggregates in the post-war U.S. economy.
To react or not? : fiscal policy, volatility and welfare in the EU-3 by Jim Malley ( Book )
5 editions published in 2007 in English and held by 10 libraries worldwide
This paper develops a dynamic stochastic general equilibrium model to examine the quantitative macroeconomic implications of countercyclical fiscal policy for France, Germany and the UK. The model incorporates real wage rigidity which is the particular market failure justifying policy intervention. We subject the model to productivity shocks and use either government consumption or investment to react to the output gap or the public debt-to-output ratio. If the object of fiscal policy is purely to stabilize output or debt volatility, then our results suggest substantial reductions can be obtained, especially with respect to output. In stark contrast, however, a formal general equilibrium welfare assessment of the volatility implications of these alternative instrument/target combinations reveals the welfare gains from active policy, measured as a share of consumption, to be very modest.
Real wages and business cycle asymmetries : presented at CESifo conference "Academic Use of ifo Survey Data", december 2003 by Ulrich Woitek ( Book )
1 edition published in 2004 in English and held by 9 libraries worldwide
The cyclicality of real wages has important implications for the validity of competing business cycle theories. However, the empirical evidence on the aggregate level is inconclusive. Using a threshold vector autoregressive model for the US and Germany to condition the relationship between real wages and business fluctuations on the phase of the cycle, it is demonstrated that the inconclusive evidence is not only caused by measurement problems, estimation method and composition bias as discussed in the literature. In addition, one should also consider whether the economy is in an upswing or a downswing. In general, the evidence for countercyclical wages is stronger in Germany than for the US, but taken together there is no clear systematic pattern.
Did monetary forces cause the Great Depression? : a Bayesian VAR analysis for the U.S. economy by Albrecht Ritschl ( Book )
3 editions published in 2000 in English and held by 8 libraries worldwide
Rational investment behavior and seasonality in early modern grain prices by Walter Bauernfeind ( Book )
2 editions published in 2000 in English and held by 8 libraries worldwide
Manufacturing earnings and cycles : new evidence by Robert A Hart ( Book )
4 editions published between 2002 and 2003 in English and held by 7 libraries worldwide
Further observations on the political business cycle in German monetary aggregates by Helge Berger ( Book )
3 editions published between 1998 and 1999 in English and held by 7 libraries worldwide
Model independent detrending for determining the cyclical properties of macroeconomic time series by Claude Hillinger ( Book )
2 editions published in 1992 in German and English and held by 7 libraries worldwide
A note on the Baxter-King filter by Ulrich Woitek ( Book )
2 editions published in 1998 in English and held by 7 libraries worldwide
Height cycles in the 18th and 19th centuries by Ulrich Woitek ( Book )
2 editions published in 1998 in English and held by 7 libraries worldwide
Business cycles in Germany : 1339 - 1670 ; a spectral analysis of grain prices and production in Nuremberg by Walter Bauernfeind ( Book )
2 editions published in 1994 in German and English and held by 7 libraries worldwide
The G7-countries : a multivariate description of the business cycle stylized facts by Ulrich Woitek ( Book )
1 edition published in 1993 in Undetermined and held by 7 libraries worldwide
The interaction between business cycles and productivity growth : evidence from US industrial data by James R Malley ( Book )
1 edition published in 1998 in English and held by 7 libraries worldwide
Academic achievement Austria Banks and banking, Central Banks and banking, Central--Mathematical models Business cycles Business cycles--Econometric models Business cycles--Mathematical models Case studies Depressions Deutsche Bundesbank Drugs--Prescribing Econometrics--Methodology Economics Educational attainment Education--Religious aspects Finance Germany History Industrial productivity--Mathematical models Labor Monetary policy Monetary policy--Mathematical models Money supply Money supply--Statistical methods Nutrition--Economic aspects Physicians (General practice) Prices--Econometric models Scotland Seasonal variations (Economics) Stature Stature--Economic aspects Students--Religious life Taxation United States Wages--Econometric models