Unemployment may depend on equilibrium in other markets than the labor markets. This paper adresses this old idea by … stochastically in equilibrium. Financial market tightness is also a function of three parameters related to financial frictions. Job … creation and employment depend on the equilibrium in the other markets. Reciprocally, higher job destruction implies more …

will introduce enough new goods to avoid such a situation. In contrast, the decentralized equilibrium may involve long run …. In the latter equilibrium, capital and the number of varieties are larger than in the former, while consumption of each … endogenized, the satiated equilibrium generically survives. For some parameter values, its growth rate is positive while labor …

controls as an optimal policy response to an energy shock within a general equilibrium framework. We develop a simple … generate endogenous price uncertainty in the wake of an energy shock. We also link our analysis to the so-called sunspot …

elasticities of the crucial functions defining the aggregate equilibrium dynamics of the model. This allows us to study how market …

general equilibrium model. In our framework, households can take actions (e.g., purchasing bednets or other goods) that …