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The growth rate of real GDP per capita is modelled and predicted at various time horizons for France, Germany, New Zealand, and the United Kingdom. The rate of growth is represented by a sum of two components – a monotonically decreasing trend and fluctuations related to the change in...
Persistent link: https://www.econbiz.de/10005025745
This paper looks at the history of money and its modern form from a scientific and mathematical point of view. The approach here is to emphasize simplicity. A straightforward model and algebraic formula for a large economy analogous to the ideal gas law of thermodynamics is proposed. It may be...
Persistent link: https://www.econbiz.de/10005126382
The growth rate of real GDP per capita is modeled and predicted at various time horizons for France, Germany, New Zealand, and the United Kingdom. The rate of growth is represented by a sum of two components – a gradually decreasing trend and fluctuations related to the change in...
Persistent link: https://www.econbiz.de/10008644993
following five questions: 1. To what extent does an economy subject to regular variations in labor productivity growth differ … from one where labor productivity is constant? 2.What is the impact on major macro indicators of a one-time change in labor … productivity growth? 3. What are the business cycle implications of autonomous (non-falsifiable) changes in growth expectations? 4 …
Persistent link: https://www.econbiz.de/10005518808
After discussing the general characteristics that the successor to IS-LM should possess, this essay argues that the business cycle research program initiated by Kydland and Prescott (1992) is beginning to show a promising capacity at incorporating a broad range of modeling features into a...
Persistent link: https://www.econbiz.de/10005650179
Das Papier untersucht die Rolle von Frühindikatoren bei der Erstellung von Konjunkturprognosen. Gegenstand der Analyse sind die Fragen: Welche Kriterien sollten Frühindikatoren generell erfüllen bzw. was sollten Frühindikatoren leisten? Inwieweit erfüllen die gängigen Indikatoren diese...
Persistent link: https://www.econbiz.de/10010985034
In this paper I review the contribution of real business cycles models to our understanding of economic fluctuations, and discuss open issues in business cycle research.
Persistent link: https://www.econbiz.de/10005662231
supply to quantitatively assess the contribution of exogenous variations in productivity (wage) and life expectancy in …
Persistent link: https://www.econbiz.de/10010897051
stages, total factor productivity growth becomes the primary driver. (Copyright: Elsevier) …
Persistent link: https://www.econbiz.de/10010551181
supply to quantitatively assess the contribution of exogenous variations in productivity (wage) and life expectancy in …
Persistent link: https://www.econbiz.de/10010556280