Robots are introduced into a real-business-cycle setup augmented with a detailed government sector. Robots are modelled as an imperfect substitute for labour services. The model is calibrated to Bulgarian data for the period following the intro- duction of the currency board arrangement...

We allow for an endogenous depreciation rate of physical capital stock into a real-business-cycle model with a government sector. We calibrate the model to Bulgarian data for the period following the introduction of the currency board arrangement (1999-2018). We investigate the quantitative...

We introduce Epstein-Zin (1989, 1991) preferences into a real-business-cycle (RBC) model with government. We calibrate the model economy to Bulgarian data for the period after the currency board regime (1999-2018). We evaluate the quantitative importance of the presence of "early resolution of...