This paper points out an empirical failing of real business cycle models in which unemployment is endogenized through a … matching function. One can easily choose a calibration to make the cyclical fluctuation in unemployment as large in the model … as it is in the data, or to make the response of unemployment to a change in the unemployment benefit as small in the …

The influence of state institutions on economic growth dynamics is an important subject of analysis in economics … institutional economy (political and economic institutions). Nowadays in India and Pakistan we can observe relatively high rates of … economic growth. However, this states differ significantly in economic conditions that are defined by institutions. The sources …