W characterize the equilibrium behavior in a broad class of competition models in which the competing firms’ market shares are given by an attraction model, and the aggregate sales in the industry depend on the aggregate attraction value according to a general function. Each firm’s revenues and costs are proportional with its expected sales volume, with a cost rate that depends on the firm’s ch...

A new Keynesian monetary policy DSGE model estimated for an emerging and advanced economy (India the US) gives deep parameter estimates, impulse responses forecast error variance decompositions each in line with theory country structure, implying similar functional forms can be differing countries coefficients capturing differences structure. Features that create excess volatility, especially m...

We apply a structural vectorautoregressive analysis to decompose fluctuations in the growth rate of industrial production and inflation precipitated by COVID-19 pandemic USA into aggregate demand, supply, uncertainty shocks. While all three types shocks contributed output dynamics, surge economic decline more strongly than demand or supply disruptions. In 2021, adverse emerged be similarly impo...

Supply chain is defined as a system of suppliers, producers, distributors, retailers and customers where material, financial and information flows connect participants in the directions. Most supply chains are composed of independent agents with individual preferences. It is expected that no single agent has the power to optimize the supply chain. Supply chain management is now seen as a govern...

This paper analyzes the existence of recursive equilibria in a class of convex growth models with incomplete markets. Households have identical CRRA-preferences, production displays constant returns to scale with respect to physical and human capital, and all markets are competitive. There are aggregate productivity shocks that affect the aggregate returns to physical and human capital investme...

The correlation between stock and housing prices, which is critical for household asset allocations, varies widely by metropolitan area and country. A general equilibrium model demonstrates that an aggregate positive technology shock increases stock prices and housing demand but can decrease housing prices where land supply is elastic because stable future rents are discounted at higher interes...

A finitely lived worker confronts a labor supply indivisibility, chooses when to work, and smooths consumption by trading a risk-free bond. A schedule maps cumulative time worked into current earnings. With a specification of preferences that assures balanced growth, the more elastic are earnings to accumulated working time, the longer is a worker’s career. Negative (positive) unanticipated ear...

Commonly used frictional models of the labor market imply that changes in frictions have large effects on steady state employment and unemployment. We use a model that features both frictions and an operative labor supply margin to examine the robustness of this feature to the inclusion of a empirically reasonable labor supply channel. The response of unemployment to changes in frictions is sim...