Business Cycles, Real
The role of real and nominal variables in defining business cycles: dynamic properties of a hybrid model an alternative view
... by Real Business Cycle and New Keynesian theorists that business cycles are a result of only movements in either real variables or nominal rigidities, ...on real as opposed to ...
53
Real Business Cycles in The Model with Two Person Household and Home Production
... In the U.S. economy hours and productivity are negatively correlated, and volatility of hours is two times higher than volatility of productivity. In the standard one shock RBC model hours are positively correlated with ...
27
Schumpeterian Foundations of Real Business Cycles
... In this paper I propose a dynamic stochastic general equilibrium model that in- cludes many of Schumpeter’s ideas about growth and business cycles. In this model, technology advances are due to the ...
28
Growth and real business cycles in Vietnam and the ASEAN 5 Does the trend shock matter?
... the business cycle frequency, transitory productivity shocks account for approximately one-half of Vietnam’s output variance, while country-risk and non-transitory productivity shocks account to close to one-fifth ...
33
Market structure and business cycles: Do nominal rigidities influence the importance of real shocks?
... these real shocks is their ability to predict US business cycle ...NBER business cycle dates against the contemporaneous and four lagged values of the TFP shocks (top panel) and MEI shocks (bottom ...
28
Real Business Cycles with Cournot Competition and Endogenous Entry
... In this section we will introduce the endogenous market structure char- acterized in the previous section in a dynamic framework that resembles the neoclassical growth model of Solow (1956), where savings are a con- ...
31
Intertwined real and monetary stochastic business cycles
... entirely free of assumptions about human behavior. As a matter of fact, it is hard to imagine how real world agents could practically attain supersymmetry. In order to calculate the market clearing and budget ...
28
Sectoral and Industrial Business Cycles
... financial, real estate, education and health possess a shorter data ...a business cycle, but only a recession, and therefore does not have any specifications about the minimum and maximum duration of the ...
37
The evolution of endogenous business cycles
... The EBC2 model, like its first generation cousin, relies on the idea that DSGE models may have multiple indeterminate equilibria to explain real world phenomena. Unlike the EBC1 model, the EBC2 model displays ...
34
International Business Cycles and Remittance Flows
... of real GDP growth volatility of all host countries from where a home country receives ...of real GDP growth volatility of all countries to which host countries send ...
38
Uncertainty and Business Cycles Asymmetries
... McQueen and Thorley (1993) formalize Keynes’ (1936) observation of asymmetric turning points by introducing the concept of “sharpness asymmetry”. A series show sharpness asymmetry when the transitions at turning points ...
102
Exploring stability and other fundamentals in a simple economy model
... In this essay I will show you, from a theoretical point of view, the connection between sustainability, stability, welfare and maximum profit in real business cycles. In a simple one sector ...
15
Business Cycles, Political Incentives and the Macroeconomy: Comparison of Models
... Traditionally, business cycles have been explained by economic fluctuations caused by random shocks and structural instability of ...of real, nominal and financial variables closely resemble the ...
18
中国经济增长的政治周期假说：理论模型和实证检验
... s business cycles are also coincidence with political ...s real political and economic ...election cycles and compared it with business ...
37
Finance in the Theory of Business Cycles
... Due to forward looking character of the model, asset prices will be leading the cycle whether or not signals are extracted from the financial markets efficiently. When financial markets are efficient, fluctuations will ...
29
Economic Transactions Govern Business Cycles
... for business cycle studies (Tallarini, 2000; Pesaran, Schuermann and Treutler, 2007; Mendoza and Yue, 2012; Diebold, ...Endogenous business cycle models within general equilibrium framework (Grandmont, ...
31
Political ideology as a source of business cycles
... I considered a case where ideological biases towards candidates from one of the groups gives them an advantage in the political arena. As a result, the voting equilibrium is asymmetric and public investment is not only ...
32
Teaching business cycles with the IS TR model
... Business cycles are an essent ial part of m acroeconomics. The IS-LM model and it s successor, t he IS- TR model, are classical t ools of macroeconomics t eaching. However, t he st udy of macroeconomics oft ...
14
Economic Transactions Govern Business Cycles
... for business cycle studies (Tallarini, 2000; Pesaran, Schuermann and Treutler, 2007; Mendoza and Yue, 2012; Diebold, ...Endogenous business cycle models within general equilibrium framework (Grandmont, ...
33
Are business cycles inevitable?
... The arising question is: which one of the delays, namely investment delay ( τ ) or price delay ( δ ), is more essential for emergence of fluctuations. The duration of periods at steady state for different values of both ...
25