real business cycles
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 ...
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Schumpeterian Foundations of Real Business Cycles
... of business fl uctuations 3 and recently there has been a considerable amount of research devoted to explore the links between fi - nancial frictions and economic growth, such as Banerjee and Duflo (2005) or Buera ...
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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 ...
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Real Business Cycles with Cournot Competition and Endogenous Entry
... unchanged. As the number of …rms start increasing the mark up goes down leading the real wage to increase more than proportionally with respect to technology. This determines an increase in the cost of entry which ...
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Exploring stability and other fundamentals in a simple economy model
... I recommend to investigate this mechanism as to my opinion it will shed a different light on the behavior of real business cycles and how to avoid or deal with them. Special attention should be given ...
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Business cycles and crime the case of Argentina
... The general assumption is that economic fluctuations affect criminal rate by changing the expected income and cost derived from legal to illegal activities. During expansions (recessions) the income of legal activities ...
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Teaching business cycles with the IS TR model
... There is dem and for an applied model t hat helps explain t he recent ly observed business cycles. This paper int roduces an applicat ion of t he t ext book IS-TR model of Burda and Wyplosz (2013), which ...
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Monitoring Business Cycles with Structural Breaks
... Although the in fl uence of the prior is very minor given the sample size, we give to the standard probit model 1 the advantage of a prior centered at its maximum likelihood estimator. For all models we assume that the ...
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The European and the Greek Business Cycles: Are they synchronized?
... GDP cycles in Germany, France, Italy, Spain and the Netherlands for the period 1970:I – ...corresponding cycles of Germany and France since the beginning of 1990s, even before the creation of the Common ...
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Business Cycles and Recessions in the OECD Area
... It is also noteworthy that the AB and DE growth pha- ses have the same frequency (44%) despite they belong to different business cycle positions. Recession phases differ instead since the BC portion (3%) occurs ...
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Schumpeter, Business Cycles and Co Evolution
... In Business Cycles (1939) Schumpeter took up empirical data which had been produced by Kondratieff, and made the ‘‘clustering’’ of innovations into the actual cause of long economic ...doing ...
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Political ideology as a source of business cycles
... in order to finance group specific public goods. Overspending results in equilibrium, but there is no public investment. Battaglini and Coate (2007) introduce productive public goods financed by the government. Instead ...
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Essays on financial markets and business cycles
... The analysis of the model yields three results. First, a positive feedback loop emerges between beliefs, asset prices and the produc- tion side of the economy, which leads to considerable amplification and propagation of ...
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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, ...
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Monetary policy and business cycle fluctuations of the Lebanese economy
... Hodrick Prescott filter applied on the quarterly time series of the Lebanese GDP over the period 1998-2015 shows a low average growth rate of the potential output trend (0.995%). This weakness in growth is attributed to ...
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Domestic Financial Frictions: Implications for International Risk Sharing, Real Exchange Rate Volatility and International Business Cycles
... The strong positive correlation between Y and I (0.90) assumed in the model is a key ingredient that enables that model to generate a realistic C-RER correlation. Shocks to Y and I drive C and RER in opposite directions. ...
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Factor shares, business cycles and the distributive loop
... observed business cycles (Michl, 1988; Sherman, 1990, 1997; Weisskopf, ...the business cycle, but their interaction remains complex and open to alternative interpretations (Goldstein 1999b; Sherman, ...
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Financial intermediaries, leverage ratios, and business cycles
... all real and financial fluctuations in the ...the real economy through a purely financial channel: if there were no financial frictions between households and banks, net worth shocks are not able to ...
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Learning and judgment shocks in U S business cycles
... business cycles Murray, James University of Wisconsin - La Crosse.[r] ...
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Business Cycles in Developing Countries: Are They Different?
... the business cycle literature, which we will tentatively refer to as the modern approach, has focused on the cyclical fluctuations in economic time series data around their long run ...growth cycles, and ...
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