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Stable balanced expansion in homogeneous dynamic models
Böhm, Volker - 2019 - Version: June 4, 2019
This paper examines the stability of balanced paths of expansion or contraction in closed macroeconomic models as … discussed. The appendix presents the mathematical tools and concepts to prove the stability of expanding/contracting paths in … international trade, or monetary macro, conditions of existence and stability are obtained applying the features of the non …
Persistent link: https://www.econbiz.de/10012011755
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Random Fixed Points in a Stochastic Solow Growth Model
Schenk-Hoppé, Klaus Reiner; Schmalfuss, Björn - Institut für Volkswirtschaftslehre, …
This paper presents a complete analysis of a stochastic version of the Solow growth model in which all parameters are ergodic random variables. Applying random dynamical systems theory, we prove that the dynamics and, in particular, the long-run behavior is uniquely determined by a globally...
Persistent link: https://www.econbiz.de/10005627867
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Financial Markets and Stochastic Growth
Mirman, Leonard J.; Schenk-Hoppé, Klaus Reiner - Institut für Volkswirtschaftslehre, …
In this paper, we study the effect of financial markets on the investment of a two-good two-country economy with stochastic production in a dynamic framework. Each country produces and invests only one good and, therefore, makes decisions as a central planner in an optimal growth model. Trade...
Persistent link: https://www.econbiz.de/10005627989
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The dynamics of balanced expansion in monetary economies with sovereign debt
Böhm, Volker - 2018
and stability are influenced in a decisive way by fiscal and monetary parameters determining steady state inflation rates …
Persistent link: https://www.econbiz.de/10012042141
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The dynamics of balanced expansion in monetary economies with sovereign debt
Böhm, Volker - 2018 - Version: September 26, 2018
and stability are influenced in a decisive way by fiscal and monetary parameters determining steady state inflation rates …
Persistent link: https://www.econbiz.de/10011903801
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Is There a Golden Rule for the Stochastic Solow Growth Model ?
Schenk-Hoppé, Klaus Reiner - Institut für Volkswirtschaftslehre, …
This paper analyzes the dependence of average consumption on the saving rate in a one-sector neoclassical Solow growth model with pro-duction shocks and stochastic rates of population growth and depreciation where arbitrary ergodic processes are considered. We show that the long-run behavior of...
Persistent link: https://www.econbiz.de/10005628011
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European Union Economy System Dynamic Model Development
Skribans, Valerijs - Volkswirtschaftliche Fakultät, … - 2012
The formation of the European Union (EU) is the one of the biggest political – economic events of the last 50 years. The aim of this study is to develop EU economy functioning system dynamic model. Main research method is system dynamics. General scheme of EU economy system dynamic model is...
Persistent link: https://www.econbiz.de/10011259562
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An inflation expectations horserace
Guzman, Giselle C. - Volkswirtschaftliche Fakultät, … - 2010
For decades, the academic literature has focused on three survey measures of expected inflation: the Livingston Survey, the Survey of Professional Forecasters, and the Michigan Survey. While these measures have been useful in developing models of forecasting inflation, the data are low frequency...
Persistent link: https://www.econbiz.de/10009647457
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Endogenous Growth, Downward Wage Rigidities and Optimal Inflation
Abbritti, Mirko; Consolo, Agostino; Weber, Sebastian - 2022
Standard New Keynesian (NK) models feature an optimal inflation target well below two percent, limited welfare losses from business cycle fluctuations and long-term monetary neutrality. We develop a NK framework with labour market frictions, endogenous productivity and downward wage rigidity...
Persistent link: https://www.econbiz.de/10013306762
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Kuznets-Kaldor-puzzle, neutral structural change and independent preferences and technologies
Stijepic, Denis; Wagner, Helmut - Volkswirtschaftliche Fakultät, … - 2009
The Kuznets-Kaldor stylized facts are one of the most striking empirical regularities of the development process in industrialized countries: While massive factor reallocation across technologically distinct sectors takes place, the aggregate ratios of the economy are quite stable. This implies...
Persistent link: https://www.econbiz.de/10009652913