WorldCat Identities

Woitek, Ulrich

Overview
Works: 48 works in 151 publications in 2 languages and 496 library holdings
Genres: History 
Roles: Thesis advisor
Classifications: HB3711, 338.542
Publication Timeline
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Publications about  Ulrich Woitek Publications about Ulrich Woitek
Publications by  Ulrich Woitek Publications by Ulrich Woitek
Most widely held works by Ulrich Woitek
Business cycles : an international comparison of stylized facts in a historical perspective by Ulrich Woitek ( Book )
8 editions published in 1997 in English and held by 141 WorldCat member libraries worldwide
Subject is the description of unvariate and multivariate business cycle stylized facts. A spectral analysis method (Maximum Entropy spectral estimation) novel in the analysis of economic time series is described and utilized. The method turns out to be superior to widely used time domain methods and the "classical" spectral estimate, the periodogram. The results for eleven OECD countries confirm and extend the basic set of stylized facts of traditional business cycle theory. The changing characteristics of the business cycle are analyzed by comparing the cyclical structure for the postwar and the prewar period. The results show that business cycle is mainly due to investment fluctuations
Did monetary forces cause the Great Depression? : a bayesian VAR analysis for the US economy by Albrecht Ritschl ( Book )
12 editions published in 2000 in English and held by 38 WorldCat member libraries worldwide
Qualifying Religion The Role of Plural Identities for Educational Production by Timo Boppart ( )
4 editions published in 2008 in English and held by 28 WorldCat member 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
Does conservatism matter? : a time series approach to central banking by Helge Berger ( Book )
10 editions published between 1998 and 1999 in English and held by 26 WorldCat member 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 22 WorldCat member libraries worldwide
Real wages and the cycle : the view from the frequency domain by Robert A Hart ( Book )
9 editions published in 2001 in English and held by 20 WorldCat member 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
Technology shocks and aggregate fluctuations in an estimated hybrid RBC model by James R Malley ( Book )
7 editions published in 2009 in English and held by 15 WorldCat member 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. -- Real Business Cycle ; Bayesian estimation ; VARMA errors
Electoral uncertainty, fiscal policy and macroeconomic fluctuations by James R Malley ( Book )
6 editions published in 2005 in English and held by 13 WorldCat member 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
Productivity shocks and aggregate cycles in an estimated endogenous growth model by James R Malley ( Book )
5 editions published in 2009 in English and held by 13 WorldCat member libraries worldwide
Using a two-sector endogenous growth model, this paper explores how productivity shocks in the goods and human capital producing sectors contribute to explaining aggregate cycles in output, consumption, investment and hours. To contextualize our findings, we also assess whether the human capital model or the standard real business cycle (RBC) model better explains the observed variation in these aggregates. We find that while neither of the workhorse growth models uniformly dominates the other across all variables and forecast horizons, the two-sector model provides a far better fit to the data. Some other key results are first, that Hicks-neutral shocks explain a greater share of output and consumption variation at shorter-forecast horizons whereas human capital productivity innovations dominate at longer ones. Second, the combined explanatory power of the two technology shocks in the human capital model is greater than the Hicks-neutral shock in the RBC model in the medium- and long-term for output and consumption. Finally, the RBC model outperforms the two-sector model with respect to explaining the observed variation in investment and hours. -- endogenous growth ; human capital ; real business cycles ; Bayesian estimation ; VAR errors
Productivity shocks and aggregate fluctuations in an estimated endogenous growth model with human capital by James R Malley ( Book )
6 editions published in 2011 in English and held by 13 WorldCat member libraries worldwide
Employing an endogenous growth model with human capital, this paper explores how productivity shocks in the goods and human capital producing sectors contribute to explaining aggregate fluctuations in output, consumption, investment and hours. Given the importance of accounting for both the dynamics and the trends in the data not captured by the theoretical growth model, we introduce a vector error correction model (VECM) of the measurement errors and estimate the model's posterior density function using Bayesian methods. To contextualize our findings with those in the literature, we also assess whether the endogenous growth model or the standard real business cycle model better explains the observed variation in these aggregates. In addressing these issues we contribute to both the methods of analysis and the ongoing debate regarding the effects of innovations to productivity on macroeconomic activity. -- endogenous growth ; human capital ; real business cycles ; VECM measurement errors ; Bayesian estimation
To react or not? : fiscal policy, volatility and welfare in the EU-3 by James R Malley ( Book )
6 editions published in 2007 in English and held by 12 WorldCat member 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
Overvalued: Swedish monetary policy in the 1930s by Alexander Rathke ( Book )
6 editions published in 2011 in English and held by 10 WorldCat member libraries worldwide
This paper reconsiders the role of monetary policy in Sweden's strong recovery from the Great Depression. The Riksbank in the 1930s is sometimes seen as an example of a central bank that was relatively innovative in terms of the conduct of monetary policy. To consider this analytically, we estimate a small-scale, structural general equilibrium model of a small open economy using Bayesian methods. We find that the model captures the key dynamics of the period surprisingly well. Importantly, our findings suggest that Sweden avoided the worst excesses of the depression by conducting conservative rather than innovative monetary policy. We find that, by keeping the Swedish krona undervalued to replenish foreign reserves, Sweden's exchange rate policy unintentionally contributed to the Swedish growth miracle of the 1930s, avoiding a major slump in 1932 and enabling the country to benefit quickly from the eventual recovery of world demand
The G7-countries : a multivariate description of the business cycle stylized facts by Ulrich Woitek ( Book )
3 editions published between 1993 and 1996 in English and held by 10 WorldCat member libraries worldwide
Are there classic business cycles? by Michael Reiter ( Book )
7 editions published in 1999 in English and held by 10 WorldCat member libraries worldwide
Further observations on the political business cycle in German monetary aggregates by Helge Berger ( Book )
4 editions published between 1998 and 1999 in English and held by 8 WorldCat member libraries worldwide
Height cycles in the 18th and 19th centuries by Ulrich Woitek ( Book )
2 editions published in 1998 in English and held by 8 WorldCat member libraries worldwide
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 8 WorldCat member 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
Model independent detrending for determining the cyclical properties of macroeconomic time series by Claude Hillinger ( Book )
3 editions published in 1992 in English and German and held by 8 WorldCat member 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 WorldCat member libraries worldwide
A note on the Baxter-King filter by Ulrich Woitek ( Book )
2 editions published in 1998 in English and held by 7 WorldCat member libraries worldwide
 
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Alternative Names
Woitek, U.
Languages
English (102)
German (2)
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