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Behrens, Kristian - 2018

We develop a general equilibrium model of monopolistic competition with a traded and a non-traded sector. Using a broad class of homothetic preferences—that generate variable markups, display a simple behavior of their elasticity of substitution, and nest the ces as a limiting case—we show...

Persistent link: https://www.econbiz.de/10012918067

Which Sectors of a Modern Economy are Most Central?

Bloechl, Florian - 2010

We analyze input-output matrices for a wide set of countries as weighted directed networks. These graphs contain only 47 nodes, but they are almost fully connected and many have nodes with strong self-loops. We apply two measures: random walk centrality and one based on count-betweenness. Our...

Persistent link: https://www.econbiz.de/10013137865

Identifying Monetary Policy Shocks Via Changes in Volatility

Lanne, Markku - 2013

data properties. In particular, it is shown that changes in the volatility of the shocks can be used for identification …

Persistent link: https://www.econbiz.de/10012754187

Evaluation of Long-Dated Investments Under Uncertain Growth Trend, Volatility and Catastrophes

Gollier, Christian - 2021

probability of macroeconomic catastrophes à la Barro (2006), and to the case of an uncertain trend or volatility of growth à la …

Persistent link: https://www.econbiz.de/10013315817

The Impact of Trade Liberalization on Industrial Productivity

Segerstrom, Paul Stephen; Sugita, Yoichi - 2021

This paper calls into question the currently most influential model of international trade. An empirical finding by Trefler (2004, AER) and others that industrial productivity increases more strongly in liberalized industries than in non-liberalized industries has been widely accepted as...

Persistent link: https://www.econbiz.de/10013315731

Business Cycle Effects of Credit and Technology Shocks in a DSGE Model with Firm Defaults

Pesaran, M. Hashem - 2011

financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined … between loan and deposit rates. The effects of the credit shock tend to be highly persistent even without price rigidities and …

Persistent link: https://www.econbiz.de/10013119521

Macroeconomic Fluctuations in a Stylized DSGE Model with Disequilibrium Dynamics

Van Aarle, Bas - 2012

This study develops a stylised DSGE model, that departs in one aspect: it replaces the general equilibrium approach by disequilibrium economics. In this way, richer macroeconomic adjustment dynamics result, as it is not necessary to assume that goods and labour markets continuously clear. The...

Persistent link: https://www.econbiz.de/10013096548

Natural Volatility, Welfare and Taxation

Posch, Olaf - 2006

. Volatility is shown to depend on the speed of convergence of the cyclical component, the expected length of a cycle and on the … volatility. With exogenous sources of fluctuations, a special case of our model, decentralized factor allocation is efficient …-) stabilize the economy. No unambiguous link exists between volatility and welfare …

Persistent link: https://www.econbiz.de/10012779787

A Micro-Level 'Consumer Approach' to Species Population Dynamics

Christiaans, Thomas; Eichner, Thomas; Pethig, Rudiger - 2021

In this paper we develop a micro ecosystem model whose basic entities are representative organisms which behave as if maximizing their net offspring under constraints. Net offspring is increasing in prey biomass intake, declining in the loss of own biomass to predators and Allee's Law applies....

Persistent link: https://www.econbiz.de/10013318279

Uncertainty and Monetary Policy in Good and Bad Times

Caggiano, Giovanni - 2017

financial volatility. Uncertainty shocks hitting in recessions are found to trigger a more abrupt drop and a faster recovery in …

Persistent link: https://www.econbiz.de/10012947523