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Financial structure, cycle, and instability
Ninomiya, Kenshiro - In: Journal of economic structures : JES; the official … 11 (2022), pp. 1-23
The subprime loan mortgage crisis has revived scholarly interest in Minsky's financial instability hypothesis. The related mathematical models present two types of Minskian financial structures. We construct macrodynamic models that consider both structures and discuss financial instability and...
Persistent link: https://www.econbiz.de/10013459612
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Business cycles in the euro area
Giannone, Domenico; Lenza, Michele; Reichlin, Lucrezia - 2009
This paper shows that the EMU has not affected historical characteristics of member countries' business cycles and their cross-correlations. Member countries which had similar levels of GDP per-capita in the seventies have also experienced similar business cycles since then and no significant...
Persistent link: https://www.econbiz.de/10003831782
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Business Cycles in the Euro Area
Giannone, Domenico; Lenza, Michele; Reichlin, Lucrezia - 2021
This paper shows that the EMU has not affected historical characteristics of member countries' business cycles and their cross-correlations. Member countries which had similar levels of GDP per-capita in the seventies have also experienced similar business cycles since then and no significant...
Persistent link: https://www.econbiz.de/10013316407
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Profit-driven and deman-driven investment growth and fluctuations in different accumulation regimes
Dosi, Giovanni; Sodini, Mauro; Virgillito, Maria Enrica - 2013
The main task of this work is to develope a model able to encompass, at the same time, Keynesian, demand-driven, and Marxian, profit-driven determinants of fluctuations. Our starting point is the Goodwin's model (1967), rephrased in discrete time and extended by means of a coupled dynamics...
Persistent link: https://www.econbiz.de/10010202757
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Business cycle accounting of the BRIC economies
Chakraborty, Suparna; Otsu, Keisuke - In: The B.E. journal of macroeconomics 13 (2013) 1, pp. 381-413
Persistent link: https://www.econbiz.de/10010227768
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Learning to Forecast and Cyclical Behavior of Output And Inflation
Adam, Klaus - 2004
This paper considers a sticky price model with a cash-in-advance constraint where agents forecast inflation rates with the help of econometric models. Agents use least squares learning to estimate two competing models of which one is consistent with rational expectations once learning is...
Persistent link: https://www.econbiz.de/10014124809
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Learning to Forecast and Cyclical Behavior of Output and Inflation
Adam, Klaus - 2004
This paper considers a sticky price model with a cash-in-advance constraint where agents forecast inflation rates with the help of econometric models. Agents use least squares learning to estimate two competing models of which one is consistent with rational expectations once learning is...
Persistent link: https://www.econbiz.de/10014070196
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Two Flaws in Business Cycle Dating
Christiano, Lawrence J. - 2007
Using quot;business cycle accounting,quot; Chari, Kehoe, and McGrattan (2006) conclude that models of financial frictions which create a wedge in the intertemporal Euler equation are not promising avenues for modeling business cycle dynamics. There are two reasons that this conclusion is not...
Persistent link: https://www.econbiz.de/10012728832
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Business cycles in the euro area
Giannone, Domenico; Lenza, Michele; Reichlin, Lucrezia - 2009
This paper shows that the EMU has not affected historical characteristics of member countries’ business cycles and their cross-correlations. Member countries which had similar levels of GDP per-capita in the seventies have also experienced similar business cycles since then and no significant...
Persistent link: https://www.econbiz.de/10011605056
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Deconstructing Growth - A Business Cycle Accounting Approach with application to BRICs
Chakraborty, Suparna; Otsu, Keisuke - 2012
improvements in effective governance in BRICs are consistent with improvements in investment and efficiency wedges that led to … developed by Chari, Kehoe and McGrattan (2007) to address these questions. Our results highlight that while efficiency wedges do … contribute in a large part to growth, especially in Brazil and Russia, there is an increasing importance of investment wedge …
Persistent link: https://www.econbiz.de/10010443378