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and Facts; The basic model: the consumption/saving choice; Allowing for a labor/leisure choice (the RBC model); Allowing … for non trivial investment decisions; Allowing for two goods; Introducing money; Introducing price setting; Introducing … basic models macroeconomists use to study fluctuations. The course is organized around nine topics/sections: Fluctuations …
Economists have studied for a long time how decision-makers allocate scarce resources. The recent literature on rational inattention studies how decision-makers allocate the scarce resource attention. The idea is that decision-makers have a limited amount of attention and have to decide how to...
consumption function and the demand for money, not to mention monetary history, which helped to undermine the post World War 2 … case for a money growth rule, and the expectations augmented Phillips curve are then taken up, followed by a discussion of …
consumption function and the demand for money, not to mention monetary history, which helped to undermine the post World War 2 … case for a money growth rule, and the expectations augmented Phillips curve are then taken up, followed by a discussion of …
This paper by building on the general theory of the monetary circuit, proves that money-as a pure bank credit liability …
be long lasting and associated with significant effects on current accounts, wages and investment. Adjustment episodes …. The adjustment is generally achieved by reducing investment and increasing savings on the back of a falling wage share. A …