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The dynamics of balanced expansion in monetary economies with sovereign debt
Böhm, Volker - 2018 - Version: September 26, 2018
and stability are influenced in a decisive way by fiscal and monetary parameters determining steady state inflation rates …
Persistent link: https://www.econbiz.de/10011903801
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Robust Cyclical Growth
Mukherji, Anjan - 2003
The stability of cyclical growth within the context of a model in Matsuyama (1999) is examined. It is shown that but … for an extreme situation, the two-cycles are unique and a range of parameter values which imply the stability of such …
Persistent link: https://www.econbiz.de/10014076807
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The Role of Policymakers in Business Cycle Fluctuations
Granato, Jim; Wong, M. C. Sunny - 2003
conditions and explore the possibility under which a policy tack that targets inflation stability, output stability, or both, can … efficient business cycle outcomes (inflation and output stability). We find that there is a range of inflation and output target … indicate that IOCS only applies to inflation and output stability, and that implementing IOCS targeting procedures creates …
Persistent link: https://www.econbiz.de/10014102995
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On the Industry Specificity of Human Capital and Business Cycles
Jerbashian, Vahagn - 2016
We define specific (general) human capital as the set of occupations whose use is spread in a limited (wide) set of industries. Using the EU Labor Force Survey database, we identify these human capital types and analyze their employment and education. This exercise yields a persistent assignment...
Persistent link: https://www.econbiz.de/10012997155
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Financial system fragility models
Iancu, Aurel - 2011
This paper analyses two types of models: 1. Those based on assumptions of monetary and financial market equilibrium disturbance in line with mainstream thinking that there is self-regulating market, the units would have rational expectations, and the crisis would be a temporary phenomenon caused...
Persistent link: https://www.econbiz.de/10010529077
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Aggregate implications of heterogeneous households in a sticky-price model
Lee, Jae Won - 2011
This paper analyzes the role of heterogeneous households in propagating shocks over the business cycle by generalizing a basic sticky-price model to allow for imperfect risk-sharing between households that differ in labor incomes. I show that imperfectly insured household consumption distorts...
Persistent link: https://www.econbiz.de/10009372947
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Nature and causes of economic fluctuations : evidence from the U.S. based on a nonlinear autoregressive integrated process
Li, Xiang; He, Zonglu - In: International journal of empirical economics 2 (2023) 3, pp. 1-21
Business cycles and economic growth have long been studied separately, hindering understanding of the nature and causes of economic fluctuations and growth. Here, we present an economic model that incorporates both deterministic trends and persistent fluctuations, derived from a general economic...
Persistent link: https://www.econbiz.de/10014430575
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Endogenous Productivity Dynamics in a Two-Sector Business Cycle Model
Fabio Massimo, Piersanti; Tirelli, Patrizio - 2020
We develop a stylized two-sector business cycle model with endogenous firm dynamics in the investment goods sector. The positive correlation between firms' profitability and the relative price of investment goods generates an endogenous persistence mechanism in productivity dynamics which drives...
Persistent link: https://www.econbiz.de/10014101548
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Housing and the business cycle revisited
Fehrle, Daniel - 2018
In this paper, I present a multi-sectoral DSGE-model with housing, real rigidities and variable capital utilization that generates aggregate and sectoral co-movements due to sector specific shocks. Furthermore, the model accounts for two puzzles: First, residential investment correlates...
Persistent link: https://www.econbiz.de/10011848066
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What Happens If Central Banks Misdiagnose a Slowdown in Potential Output
Bakker, Bas Berend - 2019
In the last few decades, real GDP growth and investment in advanced countries have declined in tandem. This slowdown was not the result of weak demand (there has been no shift along the Okun curve), but of a decline in potential output growth (which has shifted the Okun curve to the left). We...
Persistent link: https://www.econbiz.de/10012859859