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Cyclical drivers of euro area consumption : what can we learn from durable goods?
Casalis, André; Krustev, Georgi - 2020
We study the cyclical dynamics of consumption in the euro area (EA) and the large EA countries by distinguishing … cross-country heterogeneity in how different factors (including durable-specific ones) explain consumption; (iii) the … strength of spillovers from durable to nondurable consumption, as predicted by theory, is empirically correlated with how much …
Persistent link: https://www.econbiz.de/10012197836
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Heterodox macro after the crisis
Skott, Peter - 2011
Macroeconomics is in crisis and this creates openings for alternative perspectives. The dominant heterodox traditions, however, have shortcomings that need to be addressed, both to improve our understanding of the real world and to take advantage of the opportunities offered by the irrelevance...
Persistent link: https://www.econbiz.de/10009357209
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Credit-driven investment, heterogeneous labour markets and macroeconomic dynamics
Charpe, Matthieu; Flaschel, Peter; Krolzig, Hans-Martin; … - 2013
In this paper we set up a baseline, but nevertheless advanced and complete model representing detailed goods market dynamics, heterogeneous labor markets, dual and cross-dual wage-price adjustment processes, as well as counter-cyclical government policies. The cyclical movements of output...
Persistent link: https://www.econbiz.de/10009746983
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Heterodox shocks
Hannsgen, Greg - 2013 - Revised version
Should shocks be part of our macro-modeling tool kit - for example, as a way of modeling discontinuities in fiscal policy or big moves in the financial markets? What are shocks, and how can we best put them to use? In heterodox macroeconomics, shocks tend to come in two broad types, with some...
Persistent link: https://www.econbiz.de/10009752205
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Short-run macro after the crisis : the end of the "new" neoclassical synthesis?
Landmann, Oliver - 2014 - Rev.
The Financial Crisis of 2008, and the Great Recession in its wake, have shaken up macroeconomics. The paradigm of the "New" Neoclassical Synthesis, which seemed to provide a robust framework of analysis for short-run macro not long ago, fails to capture key elements of the recent crisis. This...
Persistent link: https://www.econbiz.de/10010242840
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A Keynes-Kalecki Model of Cyclical Growth with Agent-Based Features
Setterfield, Mark - 2010
Throughout his career, Malcolm Sawyer has both encouraged and contributed to the development of a Kaleckian alternative to conventional macroeconomic theory. In the spirit of this endeavour, we construct a Keynes-Kalecki model of cyclical growth with agent-based features. Our model is driven by...
Persistent link: https://www.econbiz.de/10013138130
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Macroeconomics in Crisis and Macroeconomics in Recovery
Roncaglia, Alessandro - 2012
The financial and economic crisis brings to a reconsideration of macroeconomics: as it happened in the past, after the Great Crash of 1929 as well as after the Second World War and after the collapse of the Bretton Woods system in 1971 and the subsequent oil crisis. A brief critical survey of...
Persistent link: https://www.econbiz.de/10013113966
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Macroeconomie in Crisi E Macroeconomie in Ripresa (Macroeconomics in Crisis and Macroeconomics in Recovery) (in Italian)
Roncaglia, Alessandro - 2011
The financial and economic crisis brings to a reconsideration of macroeconomics: as it happened in the past, after the Great Crash of 1929 as well as after the Second World War and after the collapse of the Bretton Woods system in 1971 and the subsequent oil crisis. A brief critical survey of...
Persistent link: https://www.econbiz.de/10013120079
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Business-Cycle Macroeconomics in an Asset Pricing Financial Economy
Tse, Wai Man - 2020
during peak. Enhancing consumption growth stimulates GDP growth in a recession …
Persistent link: https://www.econbiz.de/10012839941
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Interacting Two-Country Business Fluctuations
Asada, Toichiro - 2006
In this paper we investigate the closed-economy Keynes-Wicksell-Goodwin model of Chiarella and Flaschel (2000) for the case of two interacting open economies. We introduce these coupled two-country KWG dynamics on the extensive form level by means of a subdivision into nine modules describing...
Persistent link: https://www.econbiz.de/10012734630