منابع مشابه
Business Cycle Theory and Econometrics
We outline in turn criticisms made by econometricians of the methods used in empirical business-cycle research and then criticisms made by business-cycle researchers of some methods used by econometricians. The aim is to clarify and in some cases correct these criticisms. Overall there is no conflict in using rigourous statistical procedures to study modern dynamic stochastic general equilibriu...
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This paper tests the importance of real shocks as sources of fluctuations in iran’s economy. For this purpose, based on the work of Boschen and Mills, a set of non-monetary variables which can affect economic growth have been selected and by using an illustrative business cycle model in which the production depends on the past and current value of real shocks, the influence 01’ these variables ...
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I investigate whether existing equilibrium business cycle models driven by demand shocks (in particular, government spending shocks) can rationalize the observed causal relationship when the following information structure is embedded: (i) Employment and output cannot respond to demand shocks immediately; they can do so only with a lag behind consumption. And (ii) investment cannot respond to d...
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A mathematical and graphical treatment of the Q-theory extension of the Basic Real Business Cycle model of Prescott indicates that several key results are robust to both investment adjustment costs and to variation in the shape of the utility function and the production function while other customary results are fragile. It also demonstrates some of the richness of general equilibrium analysis....
متن کاملCatastrophe Theory and the Business Cycle
In this paper we examine a variation on Kaldor’s (1940) model of the business cycle using some of the methods of catastrophe theory. (Thom (1975), Zeeman (1977)). The development proceeds in several stages. Section I provides a brief outline of catastrophe theory, while Section II applies some of these techniques to a simple macroeconomic model. This model yields, as a special case, Kaldor’s bu...
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ژورنال
عنوان ژورنال: The Economic Journal
سال: 1995
ISSN: 0013-0133
DOI: 10.2307/2235121