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The paper develops a unified general equilibrium model includingsavings with overlapping generations, investment and search unemploament. Long-run analytical results for the small open economy identify capital accumulation as a prime transmission channel. The effects of integration on...
Persistent link: https://www.econbiz.de/10001546276
We outline the case for credit frictions and a demand side aspect to labor market fluctuations. To illustrate the above proposition, we present a simple framework to analyze the joint dependence between a labor search problem in the labor market and a costly state verification problem in the...
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The purpose of this paper is to analyze sustainability issues of Japan%u2019s fiscal policy and then to discuss the … authority of Japan because it has accumulated the debt outstanding much more than other countries …
Persistent link: https://www.econbiz.de/10012752153
authority of Japan because it has accumulated the debt outstanding much more than other countries …The purpose of this paper is to analyze sustainability issues of Japan's fiscal policy and then to discuss the debt …
Persistent link: https://www.econbiz.de/10012466308
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a large extent. But in Germany, wages have increased below this norm or even decreased, and in Japan this effect has … been even more extreme. Overall, while Japan and Germany have suffered from dysfunctional economic regimes leading to low …
Persistent link: https://www.econbiz.de/10013151089