Showing 1 - 10 of 11
Starting from a consistent and asymptotically normally distributed structural estimate of a dynamic econometric model, this paper provides an analytical derivation of the asymptotic distribution of spectra and cross spectra of the jointly dependent variables. A numerical example is provided on...
Persistent link: https://www.econbiz.de/10008490559
In a recent paper, Dominique (2009) argues that for a Walrasian economy with m consumers and n goods, the equilibrium set of prices becomes a fractal attractor due to continuous destructions and creations of excess demands. The paper also posits that the Hausdorff dimension of the attractor is d...
Persistent link: https://www.econbiz.de/10008567951
It is well known that a one-dimensional discrete-time model may yield endogenous fluctuations while this is impossible … aggregation issue. They have proposed a "random-lags approach" as a way of preserving fluctuations while relaxing the discrete … result that economies at an intermediate level of financial development may be prone to economic fluctuations continues to …
Persistent link: https://www.econbiz.de/10005619978
The role of expectations and of their disappointment in determining economic fluctuations was first studied by the … fluctuations and the changes in the time structure of production. Our introduction endeavours to highlight the strengths and …
Persistent link: https://www.econbiz.de/10005621411
explanations for the size of fluctuations of prices; our failure to explain the causes of growth and of the spread of innovation …
Persistent link: https://www.econbiz.de/10005789422
of volatility of business cycle fluctuations. Especially, New Keynesian economists emphasized the influence of demand …
Persistent link: https://www.econbiz.de/10005789898
In this article, we develop a standard short-run Kaleckian macromodel. First, we study the stability of equilibrium and make some comparative static exercises. Then, we take into account different specifications for an endogenous propensity to invest and systematically analyze the short-run...
Persistent link: https://www.econbiz.de/10008541507
This paper studies the cyclical fluctuations of the Middle East and North Africa countries in interaction with world …
Persistent link: https://www.econbiz.de/10009226814
The aim of this paper is to answer a simple question: Are fluctuations, and especially temporary decline, in …
Persistent link: https://www.econbiz.de/10008869277
is to re-evaluate this object of analysis in the light of the evolution of the theory of fluctuations to which it belongs … (Keynes, Hayek, Hicks) dealt with expectations and their disappointment in their theory of fluctuations. Part II provides … relevance of the theory of fluctuations as one moves from the years of high theory to the more recent years of rational …
Persistent link: https://www.econbiz.de/10008595630