Showing 1 - 10 of 38
Persistent link: https://www.econbiz.de/10014014698
policy measure, as it predicts significant declines in output, M1 growth, and prices, as well as a significant rise in … growth shocks, our model with disturbances to open market operations also generates a persistent rise of nominal and real …
Persistent link: https://www.econbiz.de/10010314998
We document the empirical fact that asset prices in the consumption-goods and investment-goods sector behave almost identically in the US economy. In order to derive the cyclical behavior of the equity returns in these two sectors, we consider a standard two-sector real-business cycle model with...
Persistent link: https://www.econbiz.de/10010319381
We describe an algorithm that is able to compute the solution of a singular linear difference system under rational expectations. The algorithm uses the Generalized Schur Factorization and is illustrated by a simple example.
Persistent link: https://www.econbiz.de/10010275804
According to empirical studies, the life cycle of labor supply volatility exhibits a U-shaped pattern. This may lead to the conclusion that demographic change induces a drop in output volatility. We present an overlapping generations model that replicates the empirically observed pattern and...
Persistent link: https://www.econbiz.de/10010333382
According to empirical studies, the life cycle of labor supply volatility exhibits a U-shaped pattern. This may lead to the conclusion that demographic change induces a drop in output volatility. We present an overlapping generations model that replicates the empirically observed pattern and...
Persistent link: https://www.econbiz.de/10010735186
In a sticky-price model with labor market search and habit persistence, Walsh (2005) shows that inertia in the interest rate policy helps to reconcile the inflation and output persistence with empirical observations for the US economy. We show that this finding is sensitive with regard to the...
Persistent link: https://www.econbiz.de/10005009773
policy measure, as it predicts significant declines in output, M1 growth, and prices, as well as a significant rise in … growth shocks, our model with disturbances to open market operations also generates a persistent rise of nominal and real …
Persistent link: https://www.econbiz.de/10005094487
In a sticky-price model with labor market search and habit persistence, Walsh (2005) shows that inertia in the interest rate policy helps to reconcile the inflation and output persistence with empirical observations for the US economy. We show that this finding is sensitive with regard to the...
Persistent link: https://www.econbiz.de/10005766166
We describe an algorithm that is able to compute the solution of a singular linear difference system under rational expectations. The algorithm uses the Generalized Schur Factorization and is illustrated by a simple example.
Persistent link: https://www.econbiz.de/10008572539