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Comparing Models of Macroeconomic Fluctuations: How Big Are the Differences?
Ghent, Andra - Volkswirtschaftliche Fakultät, … - 2006
I generate priors for a VAR from four competing models of economic fluctuations: a standard RBC model, Fisher’s (2006) investment-specific technology shocks model, an RBC model with capital adjustment costs and habit formation, and a sticky price model with an unaccommodating monetary...
Persistent link: https://www.econbiz.de/10005836550
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Business Cycles, Wage Setting, and Asymmetric Information
Shimer, Robert - Society for Economic Dynamics - SED - 2004
This paper explores wage-setting in the presence of asymmetric information. Firms know their own productivity, while workers only know the distribution of productivity in the economy. Although there is unemployment in equilibrium, the labor market is competitive in the sense of Moen (1997):...
Persistent link: https://www.econbiz.de/10005069473
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Fluctuaciones cíclicas y cambios de régimen en la economía Boliviana: Un análisis estructural a partir de un modelo DSGE
Zeballos Coria, David; Heredia Gómez, Juan Carlos; … - 2018
The objective of this paper is to evaluate the cyclical behavior of the Bolivian economy based on a Markov-Switching Dynamic General Equilibrium model (MS-DSGE). Using a model for a small open economy, with monetary targeting and foreign-exchange intervention, results of Bayesian estimation...
Persistent link: https://www.econbiz.de/10012156993
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Fluctuaciones cíclicas y cambios de régimen en la economía Boliviana : un análisis estructural a partir de un modelo DSGE
Zeballos Coria, David; Heredia Gómez, Juan Carlos; … - 2018
The objective of this paper is to evaluate the cyclical behavior of the Bolivian economy based on a Markov-Switching Dynamic General Equilibrium model (MS-DSGE). Using a model for a small open economy, with monetary targeting and foreign-exchange intervention, results of Bayesian estimation...
Persistent link: https://www.econbiz.de/10011948200
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Monetary trends and business cycles in Denmark 1875-2005: New evidence using the framework of financial accounts for organising historical financial statistics
Abildgren, Kim - 2006
historical monetary and financial trends and cycles on the basis of the new data set. The annual financial-account data … the longterm frequencies (8-40 years cycles) than at the business cycle frequency (2-8 years), but in the post-World War …-credit institutions with a considerable leadtime (6 years) in the long-term cycles - in the post World War II period the lead-time has …
Persistent link: https://www.econbiz.de/10010321212
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Overlapping Generations Models of General Equilibrium
Geanakoplos, John - Cowles Foundation for Research in Economics, Yale University - 2008
The OLG model of Allais and Samuelson retains the methodological assumptions of agent optimization and market clearing from the Arrow-Debreu model, yet its equilibrium set has different properties: Pareto inefficiency, indeterminacy, positive valuation of money, and a golden rule equilibrium in...
Persistent link: https://www.econbiz.de/10005010139
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Credit cycles in theory and experiment
Bosch-Domènech, Antoni; Sáez, María - Department of Economics and Business, Universitat … - 1999
matching set-up, and tests its predictions. The model provides conditions for the existence of credit markets and credit cycles …
Persistent link: https://www.econbiz.de/10005572593
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Testing the Order of Integration with Low Power Tests. An Application to Argentine Macro-variables
Carrera, Jorge Eduardo; Feliz, Mariano; Panigo, Demian - In: Journal of Applied Economics VI (2003) November, pp. 221-246
The low power of available econometric tests is an important problem in applied research on unit roots and related issues. Based on the principle of methodological triangulation, the problem should be analyzed from different points of view in order to increase the validity of the results....
Persistent link: https://www.econbiz.de/10005627095
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Assesing HP Filter Performance for Argentina and U.S. Macro Aggregates
Ahumada, Hildegart; Garegnani, María Lorena - In: Journal of Applied Economics III (2000) November, pp. 257-284
Hodrick-Prescott filter has been the favourite empirical technique among researchers studying "cycles". Software … spurious cycles and correlations. This paper discusses these criticisms from an empirical point of view trying to clarify what …
Persistent link: https://www.econbiz.de/10005668910
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Progressive Income Taxation and Economic Cycles: a Multiplier-Accelerator Model
Fanti, Luciano; Manfredi, Piero - Dipartimento di Economia e Management, Università … - 2003
The paper investigates the role of progressive income taxation in the frame of the basic multiplier-accelerator model in continuous time. It is shown that, while the proportional taxation is, as common wisdom believes, always stabilizing, in the case of non-linear progressive taxation, an...
Persistent link: https://www.econbiz.de/10005636484