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Making the case for a low intertemporal elasticity of substitution

Braun, R. Anton; Nakajima, Tomoyuki - 2012

We provide two ways to reconcile small values of the intertemporal elasticity of substitution (IES) that range between 0.35 and 0.5 with empirical evidence that the IES is large. We do this reconciliation using a model in which all agents have identical preferences and the same access to asset...

Persistent link: https://www.econbiz.de/10010292314

Growth and volatility regime switching models for New Zealand GDP data

Buckle, Robert A; Haugh, David; Thomson, Peter - 2002

utility of these methods for modelling growth and volatility regimes present in the New Zealand data and their interaction … Maximisation (EM) algorithm. The models are fitted to New Zealand GDP and production sector growth rates to analyse changes in … their mean and volatility over time. The paper discusses applications of the methodology to identifying changes in growth …

Persistent link: https://www.econbiz.de/10012115495

Families in Macroeconomics

Doepke, Matthias; Tertilt, Michèle - 2016

aggregate labor supply and savings. Next, we turn to economic growth, and describe how accounting for families is central for …

Persistent link: https://www.econbiz.de/10011479320

An empirical evaluation of three post Keynesian models

Skott, Peter - 2010

these models for the steady growth path and the cyclical properties of the economy, and evaluate the consistency of the …

Persistent link: https://www.econbiz.de/10010287839

Cyclical patterns of employment, utilization and profitability

Zipperer, Ben; Skott, Peter - 2010

The interaction between income distribution, accumulation, employment and the utilization of capital is central to macroeconomic models in the 'heterodox' tradition. This paper examines the stylized pattern of these variables using US data for the period after 1948. We look at the trends and...

Persistent link: https://www.econbiz.de/10010287851

Labor Search and Matching in Macroeconomics

Yashiv, Eran - Centre for Economic Performance, LSE - 2007

? How are wages determined? What role do labor market dynamics play in explaining business cycles and growth? The survey …

Persistent link: https://www.econbiz.de/10005510441

The Economic Dynamics in Amoroso's Contribution

Spiller, Cristina Nardi; Pomini, Mario - Dipartimento di Scienze Economiche, Facoltà di Economia - 2006

This paper aims to highlight the main features of Amoroso's reflections on macroeconomic dynamics to which he dedicated a large part of his scientific activity. He developed an original theory of business cycle and he formulated a dynamic generalisation of the Paretian theory of general economic...

Persistent link: https://www.econbiz.de/10005418858