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Business cycles in Bulgaria and the Baltic countries : an RBC approach

Vasilev, Aleksandar - 2009

This paper explores the business cycle in Bulgaria and the Baltic countries: Estonia, Latvia and Lithuania during the 1993-2005 period. The paper aims at deepening the understanding of the nature of output fluctuations. The neoclassical approach will be employed, much in the spirit of the real...

Persistent link: https://www.econbiz.de/10011487452

Search and matching frictions and business cycle fluctuations in Bulgaria

Vasilev, Aleksandar - 2016

In this paper we investigate the quantitative importance of search and matching fric- tions in Bulgarian labor markets. This is done by augmenting an otherwise standard real business cycle model a la Long and Plosser (1983) with both a two-sided costly search and fiscal policy. This introduces a...

Persistent link: https://www.econbiz.de/10011498689

Product scope and endogenous fluctuations

Pavlov, Oscar; Weder, Mark - 2015

Persistent link: https://www.econbiz.de/10010528642

How important are consumer confidence shocks for the propagation of business cycles in Bulgaria?

Vasilev, Aleksandar - 2019

This paper takes an otherwise standard real-business-cycle setup with government sector, and augments it with shocks to consumer conﬁdence to study business cycle ﬂuctuations. A surprise increase in consumer conﬁdence generates higher utility, as the household values consumption more in...

Persistent link: https://www.econbiz.de/10012147221

A progressive consumption tax : an important instrument for stabilizing business cycles, or just an exotic idea?

Vasilev, Aleksandar - 2018

We introduce progressive consumption taxation into a real-business-cycle setup augmented with a detailed government sector. We calibrate the model to Bulgarian data for the period following the introduction of the currency board arrangement (1999-2016). We investigate the quantitative importance...

Persistent link: https://www.econbiz.de/10012006059

A business-cycle model with a modified cash-inadvance feature, government sector and one-period nominal wage contracts : the case of Bulgaria

Vasilev, Aleksandar - 2018

We augment an otherwise standard business cycle model with a richer government sector, and add a modified cash in advance considerations, and one-period-ahead nominal wage contracts. In particular, the cash in advance constraint of Cooley and Hansen (1989) is extended to include private...

Persistent link: https://www.econbiz.de/10011796549

A business-cycle-model with monopolistically-competitive intermediary firms and sticky nominal wages : the case of Bulgaria after the introduction of the currency board (1999-2016)

Vasilev, Aleksandar - 2018

in the product market, and rigid prices, as well as rigid wages a la Calvo (1983) in the labor market. This specification …

Persistent link: https://www.econbiz.de/10011799333

Business cycles in Bulgaria and the Baltic Countries : an RBC approach

Vasilev, Aleksandar - 2016

Persistent link: https://www.econbiz.de/10011514583

A real-business-cycle model with endogenous discounting and a government sector

Vasilev, Aleksandar - 2018

We introduce an endogenous discount factor as in Uzawa (1968) and Schmitt-Grohe and Uribe (2003) into a real-business-cycle setup with Greenwood et al. (1988) preferences and augment the model with a detailed government sector. We calibrate the arti ficial economy to Bulgarian data for the...

Persistent link: https://www.econbiz.de/10011933754

Are "fair" wages quantitatively important for business cycle fluctuations in Bulgaria?

Vasilev, Aleksandar - 2018

We introduce "fair" wages in a general-equilibrium model where worker's effort is unobservable and investigate whether … internalize the effect that past wages have on current effort level. We calibrate the model to Bulgarian data (1999-2016), and … quantify the effect of technological shocks on hours and wages in the theoretical setup. Overall, the calibrated model with …

Persistent link: https://www.econbiz.de/10011974105