Kaldor-Kalecki model is one of the first models that use non-linear functions to explain the chaotic behaviour of the economic system. Re-elaborating the model we tried to prove the existence of a Bautin bifurcation for the discrete version of the model with an adaptation of the mathematical...

The paper starts, on one hand, from the statement unanimously accepted, that corruption exists in all societies, and on the other hand, from the preoccupations existent in the international literature about proving scientifically the models of analysis of corruption and determining on this basis...

Kaldor-Kalecki model is one of the first models that use non-linear functions to explain the chaotic behaviour of the economic system. Re-elaborating the model we tried to prove the existence of a Bautin bifurcation for the discrete version of the model with an adaptation of the mathematical...

This article shows that the "risk premium" shock in Smets and Wouters (2007) can be interpreted as a structural shock to the demand for safe and liquid assets such as short-term US Treasury securities. Several implications of this interpretation are discussed.

Develops a simple model of aggregate demand that explicitly incorporates the financial sector balances approach of Wynne Godley. Demonstrates how this can be used to understand the 1990s expansion and the recession beginning in late 2000s

The popular Calvo model with indexation (Christiano, Eichenbaum and Evans, 2005) and sticky information (Mankiw and Reis, 2002) model have guided much of the monetary policy discussion. The strength of these approaches is that they can explain the persistence of inflation. However, both of these...

We study supply and demand shocks in a general disaggregated model with multiple sectors, factors, and input-output linkages, as well as downward nominal wage rigidities and a zero lower bound constraint. We use the model to understand how the COVID-19 crisis, an omnibus of supply and demand...

We generalize the demand side of a Real Business Cycle model introducing non-homothetic preferences over differentiated final goods. Under monopolistic competition this generates variable markups that depend on the level of consumption. We estimate a flexible preference specification through...

This paper presents a synthesis of capital theory and business cycle analysis. Capital is the neglected child of macroeconomics. Despite its obvious importance, capital has not received the attention that it deserves in modeling the business cycle. While many business cycle models pay no or very...