We develop a stochastic general equilibrium model in which maintenance endogenously affects the capital depreciation … the short run. We use Bayesian estimation to obtain the time profile of equipment capital depreciation in Canadian … manufacturing. The depreciation rate has been quite volatile and procyclical over the last 50 years. …

propagation of cyclical fluctuations in Bulgaria. Allowing for Epstein-Zin preferences improves the model performance against data …

This paper focuses on explaining the economic fluctuations in Bulgaria after the introduction of the currency board … financial crisis. This paper follows Chari et al. (2002) and performs business cycle accounting (BCA) for Bulgaria during the … capita in Bulgaria over the period is due to variations in the efficiency and labor wedges. …

This paper focuses on explaining the economic fluctuations in Bulgaria after the introduction of the currency board … financial crisis. This paper follows Chari et al. (2002, 2007) and performs business cycle accounting (BCA) for Bulgaria during … output per capita in Bulgaria over the period is due to variations in the efficiency and labor wedges. …

With fiscal adjustment proceeding quickly in Bulgaria and given the weak economic growth environment, there is keen … economic activity in Bulgaria using econometric and model-based approaches. While fiscal multipliers have been modest in the …

propagation cyclical fluctuations in Bulgaria. Allowing for habits in consumption improves the model performance against data, and …