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On the other hand, companies that are perceived as having higher risk and more cyclical sensitivity fared poorly, especially many of those concerned with technology.
For example, over time the cyclical sensitivity of DI application rates has risen considerably.
A higher replacement rate for unemployment insurance benefits seems to mitigate the cyclical sensitivity of youth unemployment rates.
In particular, it would useful to articulate a micro-analysis of labour market dynamics with a macro one and study the cyclical sensitivity of labour flows given each national institutional setting9.
In a similar vein, the (OECD 2009) finds an inverse relationship between the size of fiscal packages and automatic stabilizers, but also uses projections for fiscal stimulus and a measure for automatic stabilization which is conceptually not comparable to ours as it is based on the cyclical sensitivity of the budget to the economic cycle (see Girouard and André 2005).
In addition to the cyclical sensitivity of disability applications and awards, there is evidence that there has been a secular rise in the number of workers who apply over time related to the unintentional increase in the replacement rates of DI for low wage workers (Autor and Duggan 2003).
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Basic industries (for example, pulp and paper, steel and chemicals) represent cyclical sensitivities in their purest form.
KKR targets companies that have strong and predictable cash flows, readily separable assets or businesses available for sale, products with well-known brand names and strong market positions that are not subject to rapid technological change, status as a low-cost producer, and limited sensitivity to cyclical swings.
The authors find evidence supporting a nonlinear relationship with four specific regimes tied to varying levels of cyclical unemployment where the coefficient displays the most sensitivity at the lowest and highest levels of cyclical unemployment.
To assess for the possibility of cyclical oversecretion of ACTH/cortisol, we performed serial salivary cortisol measurement, which has been shown to have similar sensitivity to urine sampling for the detection of cyclical hypercortisolism [ 5] (the patient was not taking any medication that could interfere with the result).
Thyroid homeostasis is a dynamic, cyclical condition; the relationship of maternal, fetal, and neonatal serum hormone concentrations, windows of vulnerability, and differential tissue sensitivities during development are complex.
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