The mechanisms governing the relationship of money, prices and interest rates to the business cycle are the most studied and most disputed topics in macroeconomics. In this paper, we first document key empirical aspects of this relationship. We then ask how well three benchmark rational expectations macroeconomic models-a real business cycle model, a sticky price model and a liquidity effect mo...

This paper proposes a simple method for guiding researchers in developing quantitative models of economic fluctuations. We show that a large class of models, including models with various frictions, are equivalent to a prototype growth model with time varying wedges that, at least on face value, look like time-varying productivity, labor taxes, and capital income taxes. We label the time varyin...

Aggregate Shocks or Aggregate Information? Costly Information and Business Cycle Comovement When similar patterns of expansion and contraction are observed across sectors, we call this a business cycle. Yet explaining the similarity and synchronization of these cycles across industries remains a puzzle. Whereas output growth across industries is highly correlated, identifiable shocks, like shoc...

This paper attempts to simulate endogenous cyclical behaviour through variations on the standard real business models. This paper relaxes the perfect foresight assumption implied by the rational agent hypothesis. It is replaced by imperfect adaptive expectations. The model is extended with a delay between investment and capital accumulation. This paper also simulates a non-equilibrium timediffe...

Drawing on agency theory concerning corporate social responsibility (CSR) activities, this study investigates the relationship between performance (CSP) and financial (CFP) at each stage of firm life cycle (FLC). It also verifies how is affected by large business groups. This shows a significant positive CSP CFP growth mature stages. more pronounced in firms than firms. result indicates that CS...

We analyze causal effects of conditions early in life on the individual mortality rate later in life. Conditions early in life are captured by transitory features of the macro-environment around birth, notably the state of the business cycle around birth, but also food price deviations, weather indicators, and demographic indicators. We argue that these features can only affect high-age mortali...

the supercapacitive behavior of polyaniline/mno2-carbon black (pani/mno2-cb), mno2-cb nanocompositesand cb was studied. mno2-cb made by the in situ direct coating method to deposit mno2 onto cb; then pani coating was coated on it. morphology of the nanocomposite was studied by x-ray diffraction (xrd), fourier transform infrared (ft-ir) spectroscopy and scanning electron microscopy (sem). the el...

escalating development of tourism and petroleum industries in small islands such as lavan-iranrequires sound solid waste management. in the present investigation, three scenarios which consist of thecombination of landfill, recycling, incineration and composting and their environmental impacts have beenevaluated for 7514 kg/day of waste generation in lavan island. for this purpose, life cycle a...