This paper assesses the merits of countercyclical bank balance sheet regulation for the stabilization of financial and economic cycles and examines its interaction with monetary policy. The framework used is a dynamic stochastic general equilibrium model with banks and bank capital, in which...

We develop and estimate a DSGE model which realistically assumes that many goods in the economy are produced through more than one stage of production. Firms produce differentiated goods at an intermediate stage and a final stage, post different prices at both stages, and face stage-specific...

We build a Dynamic General Equilibrium model with search frictions for the allocation of physical capital and investigate its implications for the business cycle. While the model is in principle capable of generating substantial internal propagation to small exogenous shocks, the quantitative...

Multi-countru models have not been very successful in replicating features of the international transmission of business cycles. Standard models predict cross-country correlations of output and consumption which are respectively too low and loo high. In this paper, we built a multi-country model...

This Paper Reviews the Literature on the Compliance Costs Incurred by Businesses and Individuals Because of One Or More Taxes. It Presents Both the Main Characteristics, Such As Sample Size, Interview Techniques and So On, and the Key Findings of the Nineteen Studies Reviewed. in General, One...

We Present a Model of a Mineral Producing Sector Where Irreversible Investment in Capacity and the Presence of Orebodies Which Differ in Quality and Volume Help Explain Some Important Stylized Facts. in Particular We Find That, While Deposits Are Exhausted in Declining Order of Grade, More Than...