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Persistent link: https://www.econbiz.de/10001982872
high priority needs in the life, and smaller needs can be subsequent, for progressive happiness. Money cannot bring …
Persistent link: https://www.econbiz.de/10005408439
of the Combrain will be to identify,plan&derive implementation methods for Basic Needs;Domestic Investment …
Persistent link: https://www.econbiz.de/10005118844
. Using this model, I demonstrate how a positive investment-saving correlation can arise in a world with endogenous fiscal … capital mobility. This implies that the observed investment- saving comovement is not necessarily due to imperfect capital … mobility. The model has a testable implication: it predicts a lack of Granger causality from private saving to private …
Persistent link: https://www.econbiz.de/10005119430
the origin of the aggregate volatility reduction. We show that states with relatively high concentrations in the durable-goods …
Persistent link: https://www.econbiz.de/10005360567
In this paper we provide international evidence on the issue of whether the optimizing IS equation is more stable than a backward-looking alternative. The international evidence consist of estimates of IS equations on quarterly data for the UK and Australia, both for the full sample of the last...
Persistent link: https://www.econbiz.de/10005707758
Persistent link: https://www.econbiz.de/10002496912
-theoretic environment with divisible money and goods. We find that in such a setting, a positive feedback between work and shopping effort …This paper investigates the relationship between money growth, inflation, and productive activity in a general … equilibrium model where search frictions motivate the transactions role of money. The use of a multiple matching technique, where …
Persistent link: https://www.econbiz.de/10005360588
Structural vector autoregression (SVAR) models are commonly used to investigate the effect of structural shocks on economic variables. The identifying restrictions imposed in many of these exercises have been criticized in the literature. This paper extends this literature by showing that if the...
Persistent link: https://www.econbiz.de/10005360546
A pair of simple modifications-in the forecast error and forecast error variance-to the Kalman filter recursions makes possible the filtering of models in which one or more state variables is truncated normal and latent. Such recursions are broadly applicable to macroeconometric models, such as...
Persistent link: https://www.econbiz.de/10005707653