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The paper employs an extended Yaari-Blanchard model of overlapping generations to study how the macroeconomy is affected over time by various demographic changes. It is shown that a proportional decline in fertility and death rates has qualitatively similar effects to capital income subsidies;...
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This note examines the macroeconomic impact of demographic shocks in a continuous-time overlapping-generations model à la Yaari (1965)-Blanchard (1985)-Buiter (1988), assuming a hump-shaped lifecycle profile of earnings.Compared to the case without age-dependent earnings, an additional...
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in Turkey. Design/methodology/approach - The data were taken from International Financial Statistics databases … increases have negative effects on output growth and mitigate the magnitude of thesome recessionary periods in Turkey. However …, it doesn't strongly explain the behavior of business cycle in Turkey. Research limitations/implications - Our results …
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It is well known that a tightening or easing of the United States' monetary policy affects financial markets in emerging economies. This paper argues that uncertainty about future monetary policy is a separate transmission channel. We focus on the taper tantrum episode in 2013, a period with an...
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