This paper proposes a comparative analysis of the main macroeconomic aggregates (both real and credit aggregates) and the monetary policy response during the most severe recessions experienced by the Italian economy. This descriptive study focuses mainly on the last forty years, a period for...

This paper investigates the effect of changes in the retention ratio, profit share, interest rate, and natural rate of growth on the rate of capital accumulation and the financial structure of firms by using a Kaleckian growth model with labor supply constraints. We show that if the economy...

This survey analyses two types of models: 1. Models based on assumptions of monetary and financial market equilibrium disturbance, in line with mainstream thinking according to which if there is a self-regulating market the units would have rational expectations, and the crisis would be a...

This survey analyzes two types of models: 1. Models based on assumptions of monetary and financial market equilibrium disturbance in line with mainstream thinking to believe that is self-regulating market, the units would have rational expectations, an the crisis would be a temporary phenomenon...

This survey analyses two types of models: 1. models based on assumptions of monetary and financial market equilibrium disturbance in line with mainstream thinking to believe that is self-regulating market, the units would have rational expectations, and the crisis would be a temporary phenomenon...

This paper analyses two types of models: 1. Those based on assumptions of monetary and financial market equilibrium disturbance in line with mainstream thinking that there is self-regulating market, the units would have rational expectations, and the crisis would be a temporary phenomenon caused...

This paper provides an empirical analysis of the business cycle regularities of the Uruguayan economy from 1975 to 1994, using quarterly macroeconomic data. The method of estimation of the cyclical components is based on the application of the Hodrick-Prescott filter to the unobserved...

W artykule podjęto próbę oceny zależności między koniunkturą w polskiej gospodarce a aktywnością gospodarstw domowych na rynku usług ubezpieczeniowych. Wśród mierników aktywności gospodarstw uwzględnionych w analizie znalazły się m.in. liczba usług ubezpieczeniowych, liczba...

Previous studies on financial frictions have been unable to establish the empirical significance of credit constraints in macroeconomic fluctuations. This paper argues that the muted impact of credit constraints stems from the absence of a mechanism to explain the observed persistent comovements...

We argue that positive comovements between land prices and business investment are a driving force behind the broad impact of land-price dynamics on the macroeconomy. We develop an economic mechanism that captures the comovements by incorporating two key features into a DSGE model: we introduce...