Search Results - subject:"Real Business Cycles"

Productivity shocks and aggregate cycles in an estimated endogenous growth model

Malley, Jim; Woitek, Ulrich - Institut für Volkswirtschaftslehre, … - 2009

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...

Persistent link: https://www.econbiz.de/10004998254

Productivity shocks and aggregate cycles in an estimated endogenous growth model

Malley, Jim; Woitek, Ulrich - Department of Economics, Adam Smith Business School - 2009

hours. Keywords: endogenous growth, human capital, real business cycles, Bayesian estimation, VAR errors JEL codes: C11, C52 …

Persistent link: https://www.econbiz.de/10005034846

Technological Change and the Roaring Twenties: A Neoclassical Perspective

Harrison, Sharon; Weder, Mark - Centre for Dynamic Macroeconomic Analysis, University … - 2009

economy sucessfully replicates the boom years from 1922-1929. JEL Classification: E32, N12. Keywords: Real Business Cycles … numerically evaluates the general equilibrium 1We de�ne real business cycles in the sense of "[...] recurrent �uctuations in an … Business Cycles", in: The New Pal- grave Dictionary of Economics, 2nd Ed (forthcoming). [25] Maddison, Angus (1991): Dynamic …

Persistent link: https://www.econbiz.de/10005696952

Local Determinacy with Non-separable Utility

Pintus, Patrick-Antoine - HAL - 2009

This paper introduces general formulations for both technology (with input substitution) and non-separable utility (compatible with balanced growth and stationary worked hours) into a benchmark RBC model. It is shown that intertemporal substitution and input substitutability lead to local...

Persistent link: https://www.econbiz.de/10008794072

Análise das flutuações econômicas no Brasil, de 1991 a 2008, a partir dos modelos RBC

Duda, Fabricio; Sampaio, Armando Vaz - In: Revista de Economia e Agronegocio / Brazilian Review of … 7 (2009) 2

make choice between present and future consumption at the uncertain environment. The real business cycles (RBC) are example …

Persistent link: https://www.econbiz.de/10008555684

The great risk shift?: income volatility in an international perspective

Buch, Claudia M. - 2008

Weakening bargaining power of unions and the increasing integration of the world economy may affect the volatility of capital and labor incomes. This paper documents and explains changes in income volatility. Using a theoretical framework which builds distribution risk into a real business cycle...

Persistent link: https://www.econbiz.de/10010264490

Business Cycles in Bulgaria and the Baltic Countries: An RBC Approach

Vasilev, Aleksandar Zdravkov - 2008

This paper explores the business cycle in Bulgaria and the Baltic countries: Estonia, Latvia and Lithuania during the 1993-2005 period. The paper aims at deepening the understanding of the nature of output fluctuations. The neoclassical approach will be employed, much in the spirit of the Real...

Persistent link: https://www.econbiz.de/10011480433

The Great Risk Shift? Income Volatility in an International Perspective

Buch, Claudia M. - CESifo - 2008

Persistent link: https://www.econbiz.de/10005766236

What Happens During Recessions, Crunches, and Busts?

Terrones, Marco; Kose, M. Ayhan; Claessens, Stijn - International Monetary Fund (IMF) - 2008

We provide a comprehensive empirical characterization of the linkages between key macroeconomic and financial variables around business and financial cycles for 21 OECD countries over the period 1960â€“2007. In particular, we analyze the implications of 122 recessions, 112 (28) credit...

Persistent link: https://www.econbiz.de/10005769300

Capital-Labor Substitution, Equilibrium Indeterminacy, and the Cyclical Behavior of Labor Income

Guo, Jang-Ting; Lansing, Kevin J. - Department of Economics, University of California-Riverside - 2008

This paper examines the quantitative relationship between the elasticity of capital-labor substitution and the conditions needed for equilibrium indeterminacy (and belief-driven áuctuations) in a one-sector growth model. Our analysis employs a ínormalizedîversion of the CES production...

Persistent link: https://www.econbiz.de/10005006784