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...

Joining the European Union big opportunities in the international markets have opened for Latvia. Paper purpose is to investigate influence of international integration processes on development of economy of Latvia. Latvia's incoming in EU increased the amount of received means from structural...

Joining the European Union big opportunities in the international markets have opened for Latvia. Paper purpose is to investigate influence of international integration processes on development of economy of Latvia. In the paper Latvian economic indicators before and after entering the EU are...

For Latvia with incoming into the European Union big opportunities in the international markets have opened. Paper purpose is to investigate influence of international integration processes on development of economy of Latvia. In paper various indicators of a national economy before and after...

In the paper model of macroeconomic turnover and its possibilities for investments modelling are shown. The model consists from four blocks: in the first the theoretical model is described. In the second the model is reflected in accordance with the requirements of system dynamics method, there...

This paper estimates a firm-specific capital DSGE model. Firm-specific capital improves the fit of DSGE models to the data (as shown by a large increase in the value of the log marginal likelihood). This results from a lower implied estimate of the NKPC slope for a given degree of price...

In this paper I make use of Bayesian methods to estimate a firm-specific capital DSGE model with Calvo price and wage setting. This approach allows me to firmly conclude that firm-specific capital is highly relevant in improving the fit of New Keynesian models to the data as shown by a large...

The question arises whether there can be an enrichment of business cycle research when business cycle indicators will be used in an increasing dimension. This article, dedicated to Professor Adolf Wagner, tries to differentiate three fields of research: Hypothesis formation in theory,...

Das ifo Instiut hat ein neues Handbuch der umfragebasierten Konjunkturforschung erstellt. Das Handbuch gibt einen Überblick über die regelmäßigen Befragungsaktivitäten des Instituts und zeigt Möglichkeiten der wissenschaftlichen Verwertung der Befragungsergebnisse im Rahmen der...

China is well-placed to avoid the so-called “middle-income trap” and to continue to converge towards the more advanced economies, even though growth is likely to slow from near double-digit rates in the first decade of this millennium to around 7% at the 2020 horizon. However, in order to...