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In this paper, an econometric model of consumption in Bulgaria for the period 1997-2005 is constructed. The Error … purpose of this empirical paper is to get a better understanding of the factors driving household consumption in Bulgaria and …
Persistent link: https://www.econbiz.de/10011487484
In this paper, an econometric model of consumption in Bulgaria for the period 1997-2005 is constructed. The Error … purpose of this empirical paper is to get a better understanding of the factors driving household consumption in Bulgaria and …
Persistent link: https://www.econbiz.de/10011500197
Persistent link: https://www.econbiz.de/10011285389
We augment an otherwise standard business cycle model with a richer government sector, and add monopolistic competition in the product market, and rigid prices, as well as rigid wages a la Calvo (1983) in the labor market. This specification with the nominal wage rigidity, when calibrated to...
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