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Introducing financial frictions and unemployment into a small open economy model
Christiano, Lawrence J.; Trabandt, Mathias; Walentin, Karl - In: Journal of Economic Dynamics and Control 35 (2011) 12, pp. 1999-2041
Which are the main frictions and the driving forces of business cycle dynamics in an open economy? To answer this question we extend the standard new Keynesian model in three dimensions: we incorporate financing frictions for capital, employment frictions for labor and extend the model into a...
Persistent link: https://www.econbiz.de/10010573983
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Introducing financial frictions and unemployment into a small open economy model
Christiano, Lawrence J.; Trabandt, Mathias; Walentin, Karl - 2007
Which are the main frictions and driving forces of business cycle dynamics in a small open economy? To answer this question we extend what is becoming the standard new Keynesian model in three dimensions. First, we incorporate frictions in the financing of the capital stock. Second, we model...
Persistent link: https://www.econbiz.de/10010320738
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Introducing financial frictions and unemployment into a small open economy model
Christiano, Lawrence J. (contributor);  … - 2007
How important are financial and labor market frictions for the business cycle dynamics of a small open economy? What are the quantitative effects of increased financial risk on output and inflation? What drives the variation in the intensive and extensive margin of labor supply? What are the...
Persistent link: https://www.econbiz.de/10003576718
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Introducing Financial Frictions and Unemployment into a Small Open Economy Model
Christiano, Lawrence J. - 2014
The current financial crisis has made it abundantly clear that business cycle modeling can no longer abstract from financial factors. It is also clear that the current standard approach of modeling labor markets without explicit unemployment has its limitations. We extend what is becoming the...
Persistent link: https://www.econbiz.de/10013069242
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Introducing Financial Frictions and Unemployment into a Small Open Economy Model
Christiano, Lawrence J.; Trabandt, Mathias; Walentin, Karl - 2011
Which are the main frictions and driving forces of business cycle dynamics in a small open economy? To answer this question we extend what is becoming the standard new Keynesian model in three dimensions. First, we incorporate frictions in the financing of the capital stock. Second, we model...
Persistent link: https://www.econbiz.de/10014221498
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Back from the Peak, Growth in Transition Countries Returns to Standard Rate of Catching-up
Astrov, Vasily; Gligorov, Vladimir; Havlik, Peter; … - Wiener Institut für Internationale … - 2005
in unit labour costs. Despite this (and despite growth being weaker than expected in the euro zone), NMS foreign trade … continues to perform excellently. Foreign trade has been even more instrumental in generating GDP growth in the first quarter of … 2005 than in the past. It should be pointed out, however, that NMS trade with the 'old' EU has grown at a relatively slower …
Persistent link: https://www.econbiz.de/10009492721
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Strong Growth, Driven by Exports in the NMS and by Consumption in the Future EU Members
Astrov, Vasily; Gligorov, Vladimir; Havlik, Peter; … - Wiener Institut für Internationale … - 2006
growth in Ukraine has been spectacular, reflecting weak investment demand and the deterioration of foreign trade. By and …
Persistent link: https://www.econbiz.de/10009492722
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Accelerating GDP Growth, Improved Prospects for European Integration
Astrov, Vasily; Gligorov, Vladimir; Havlik, Peter; … - Wiener Institut für Internationale … - 2005
outstanding feature of last year's economic developments was a boost in foreign trade (or of intra-EU dispatches and arrivals in … their aggregate trade balance slightly deteriorated (in fact foreign trade contributed positively to GDP growth in Poland … and 72% of imports represent intra-EU trade. Given the high (and rising) export surpluses of Russia and Ukraine - in both …
Persistent link: https://www.econbiz.de/10009649596
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Accelerating GDP Growth, Improved Prospects for European Integration
Astrov, Vasily; Gligorov, Vladimir; Havlik, Peter; … - 2005
outstanding feature of last year's economic developments was a boost in foreign trade (or of intra-EU dispatches and arrivals in … their aggregate trade balance slightly deteriorated (in fact foreign trade contributed positively to GDP growth in Poland … and 72% of imports represent intra-EU trade. Given the high (and rising) export surpluses of Russia and Ukraine - in both …
Persistent link: https://www.econbiz.de/10012100050
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Back from the Peak, Growth in Transition Countries Returns to Standard Rate of Catching-up
Astrov, Vasily; Gligorov, Vladimir; Havlik, Peter; … - 2005
in unit labour costs. Despite this (and despite growth being weaker than expected in the euro zone), NMS foreign trade … continues to perform excellently. Foreign trade has been even more instrumental in generating GDP growth in the first quarter of … 2005 than in the past. It should be pointed out, however, that NMS trade with the 'old' EU has grown at a relatively slower …
Persistent link: https://www.econbiz.de/10012100056