Showing 1 - 10 of 2,531
Persistent link: https://www.econbiz.de/10000050245
Persistent link: https://www.econbiz.de/10000052411
Persistent link: https://www.econbiz.de/10002813360
Persistent link: https://www.econbiz.de/10013203872
Traditionally, observed fluctuations in aggregate economic time series have been mainly modeled as being the result of exogenous disturbances. A better understanding of macroeconomic phenomena, however, surely requires looking directly at the relations between variables that may trigger...
Persistent link: https://www.econbiz.de/10010311637
Persistent link: https://www.econbiz.de/10010313998
Which are the main frictions and driving forces of business cycle dynamics in a small open economy? To answer this question we extend what is becoming the standard new Keynesian model in three dimensions. First, we incorporate frictions in the financing of the capital stock. Second, we model...
Persistent link: https://www.econbiz.de/10010320738
In our dynamic optimizing sticky price model, agents are heterogeneous with regard to their age and their productivity. We find that the business cycle dynamics in the OLG model in response to both a technology shock and a monetary shock are similar, but not completely identical to those found...
Persistent link: https://www.econbiz.de/10010261430
The question of the main determinants of persistent responses due to nominal shocks captures, at least since Chari et al. (2000), a major part of the recent macroeconomic debate. However, the question whether sticky wages and/or sticky prices are sufficient for persistent reactions of key...
Persistent link: https://www.econbiz.de/10010262990
We build quadratic labor adjustment costs into an otherwise standard New-Keynesian model of the business cycle and show that this is sufficient to increase both, output and inflation persistence.
Persistent link: https://www.econbiz.de/10010263522