A Minimal Endogenous Business Cycle Model with Memory Effects

We present a Solow-type model that incorporates rigidity and delay in employment and wage adjustment. When adjustment delays exceed a critical value of 3.4 days, endogenous business cycles with realistic characteristics arise. In response to stochastic aggregate shocks and natural disasters, for a dynamic investment mode, the cyclic economy sustains decreased indirect damage during economic contraction

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Year of publication:	[2021]
Authors:	Ohara, Daniel ; Ghil, Michael
Publisher:	[S.l.] : SSRN
Subject:	Konjunkturtheorie \| Business cycle theory

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Extent:	1 Online-Ressource (18 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments November 8, 2021 erstellt
Other identifiers:	10.2139/ssrn.3959179 [DOI]
Classification:	E22 - Capital; Investment (including Inventories); Capacity ; E24 - Employment; Unemployment; Wages ; E32 - Business Fluctuations; Cycles ; C02 - Mathematical Methods ; D20 - Production and Organizations. General ; Q54 - Climate; Natural Disasters ; C6 - Mathematical Methods and Programming ; C14 - Semiparametric and Nonparametric Methods ; E02 - Institutions and the Macroeconomy
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013313915