En este estudio desarrollamos y estimamos un modelo de equilibrio general para ver la relevancia del mercado accionario a nivel agregado en la economía chilena para el período 1997/2009. El modelo es del tipo nuevo Keynesiano que además de la rigidez estándar en precios incorpora fricciones...

We present a model where the saving rate of the household sector, especially households at the bottom of the income distribution, becomes the endogenous variable that adjusts in order for full employment to be maintained over time. An increase in income inequality and the current account deficit...

The main purpose of this article is to briefly present the Keynesian explanation of business cycle, economic fluctuation and crises, and also the solutions proposed from Keynesian perspective to the economic problems that characterize the bust phases of the business cycles (unemployment,...

The General Theory showed that the main determinant of the level of output and of employment at any point of time was the level of effective demand. It did so in an environment of uncertainty using analysis in historical time. Unfortunately, most of Keynes's insights were soon lost to the...

We present a model where the saving rate of the household sector, especially households at the bottom of the income distribution, becomes the endogenous variable that adjusts in order for full employment to be maintained over time. An increase in income inequality and the current account deficit...

We present a model where the saving rate of the household sector, especially households at the bottom of the income distribution, becomes the endogenous variable that adjusts in order for full employment to be maintained over time. An increase in income inequality and the current account deficit...

This paper examines the emergence of private debt-led growth in Canada since the Global Financial Crisis (GFC) by means of a growth regimes and macroeconomic policy regime assessment. Examining each of the four business cycles in the 1983-2020 period, roughly encompassing the entirety of the...