Showing 1 - 10 of 578
important propagation mechanism in a dynamic stochastic general equilibrium model, as the current labour supply affects future …
Persistent link: https://www.econbiz.de/10005504303
Large fluctuations in energy prices have been a distinguishing characteristic of the U.S. economy since the 1970s. Turmoil in the Middle East, rising energy prices in the U.S. and evidence of global warming recently have reignited interest in the link between energy prices and economic...
Persistent link: https://www.econbiz.de/10005504581
Does it matter for the propagation mechanism following nominal shocks whether nominal rigidities are specified as … persistence pattern. Specifically, nominal wage and price rigidities are equivalent "impact adjusted" propagation mechanisms …
Persistent link: https://www.econbiz.de/10005440001
Recent theoretical research in business cycle modelling has aimed at putting forward a unified framework for studying both short-term cycles and long-term growth. Empirical research based on structural vector-autoregression has established that the same factors which drive long-run growth also...
Persistent link: https://www.econbiz.de/10004968296
Resurgence in Indian inflation since 2007 was associated with sharp food and oil price inflation. Propagation …
Persistent link: https://www.econbiz.de/10011111900
We study the impact of regional and sectoral productivity changes on the U.S. economy. To that end, we consider an environment that captures the effects of interregional and intersectoral trade in propagating disaggregated productivity changes at the level of a sector in a given U.S. state to...
Persistent link: https://www.econbiz.de/10011083376
Investment in inventories is known to be important for observed changes in GDP. However, inventory investment and the possibility that firms may fail to sell all goods are typically ignored in business cycle models. Using US data, the ability to sell is shown to be strongly procyclical. By...
Persistent link: https://www.econbiz.de/10011084538
Changes in the stock of inventories are important for fluctuations in aggregate output. However, the possibility that firms do not sell all produced goods and inventory accumulation are typically ignored in business cycle models. This paper captures this with a goods-market friction. Using US...
Persistent link: https://www.econbiz.de/10011185812
We study the implications of internal consumption habit for new Keynesian dynamic stochastic general equilibrium (NKDSGE) models. Bayesian Monte Carlo methods are employed to evaluate NKDSGE model fit. Simulation experiments show that internal consumption habit often improves the ability of...
Persistent link: https://www.econbiz.de/10010842009
The paper deals with the analysis of tsunami risks for Western Canada and the numerical modelling of a potential tsunami which could affect the region and generate significant damage to the western Canadian coastline. Following a review of the seismic risk and historical tsunamis which occurred...
Persistent link: https://www.econbiz.de/10010846917