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MODELLING ECONOMIC FLUCTUATIONS IN SUBSAHARAN AFRICA:A VECTOR AUTOREGRESSIVE APPROACH
NWAOBI, DR. GODWIN CHUKWUDUM - EconWPA - 2004
trends in output, consumption and investment) to provide new evidence on this question(using subsaharan africa as a case …
Persistent link: https://www.econbiz.de/10005412719
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Habits, sentiment and predictable income in the dynamics of aggregate consumption
Sommer, Martin - 2001
standard permanent income model with intertemporally separable utility: the sensitivity of consumption to lagged consumer … sentiment and to predictable changes in current income I show that in a habit formation model the sensitivity of consumption … growth to predicted income can be to a large extent reinterpreted as a sluggish response of consumption to news Moreover the …
Persistent link: https://www.econbiz.de/10010293449
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Habit formation in consumption: A meta-analysis
Havranek, Tomas; Rusnak, Marek; Sokolova, Anna - 2015
We examine 567 estimates of habit formation from 69 studies published in peer-reviewed journals. In contrast to previous results for most fields of empirical economics, we find no publication bias in the literature. The median estimated strength of habit formation equals 0.4, but the estimates...
Persistent link: https://www.econbiz.de/10011340627
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Habit formation in consumption : a meta-analysis
Havránek, Tomáš; Rusnak, Marek; Sokolova, Anna - 2015
We examine 567 estimates of habit formation from 69 studies published in peer-reviewed journals. In contrast to previous results for most fields of empirical economics, we find no publication bias in the literature. The median estimated strength of habit formation equals 0.4, but the estimates...
Persistent link: https://www.econbiz.de/10011284220
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Habits, Sentiment and Predictable Income in the Dynamics of Aggregate Consumption
Sommer, Martin - EconWPA - 2004
that in a habit formation model, the sensitivity of consumption to predicted income can be largely reinterpreted as a … sluggish response to news. Moreover, the sensitivity of consumption to sentiment reflects the serial correlation in consumption …
Persistent link: https://www.econbiz.de/10005561179
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Dépenses publiques et taxation proportionnelle dans les modèles réels du cycle
Paquet, Alain - Centre de Recherche sur l'Emploi et les Fluctuations … - 1993
Ce texte propose une revue des développements récents de la littérature macroéconomique inspirée de l'approche des modèles du cycle réel via l'introduction de différentes facettes de l'activité gouvernementale. A l'aide d'un modèle typique du cycle réel avec gouvernement, nous...
Persistent link: https://www.econbiz.de/10005827167
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Capacity constraints, asymmetries, and the business cycle
Hansen, Gary D.; Prescott, Edward C. - In: Review of Economic Dynamics 8 (2005) 4, pp. 850-865
We study how an occasionally binding capacity constraint affects the properties of business cycles. A real business cycle model is constructed where production takes place at individual plants and the number of plants operated varies over the cycle. The capacity constraint binds in states where...
Persistent link: https://www.econbiz.de/10005090991
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A Real Business Cycle Bibliography
Zimmermann, Christian - Centre de Recherche sur l'Emploi et les Fluctuations … - 1996
This is a non comprehensive list of references on economic fluctuations, with a special focus on real business cycle models and similar models. This bibliography is regularly updated and downloadable in various formats. <P> Ce document comprend une liste importante, quoique incomplète, de...</p>
Persistent link: https://www.econbiz.de/10005168686
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Fiscal Spending Shocks, Endogenous Government Spending and Real Business Cycles
Ambler, Steve; Paquet, Alain - Centre de Recherche sur l'Emploi et les Fluctuations … - 1993
We consider the effects of fiscal spending shocks in a real business model when a portion of government spending is endogenized and chosen to maximize the utility of the representative private agent. Endogenous spending partially neutralizes the effects of both exogenous fiscal spending shocks...
Persistent link: https://www.econbiz.de/10005611937
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Habit formation, adjustment costs, and international transmission of fiscal policy
Gonzalez-Hernandez, Ramon A.; Karayalcin, Cem - In: Journal of International Money and Finance 32 (2013) C, pp. 341-359
, we show that the model can generate positive short- and medium-run consumption responses to a positive fiscal shock. This … is relevant as negative consumption responses are considered to be one of the main challenges facing neo-classical models …
Persistent link: https://www.econbiz.de/10010869415