We provide evidence on the dynamic behavior of net labor flows across US states in response to a positive technology shock. Technology shocks are identified as disturbances that increase relative state productivity in the long run for 226 state-pairs encompassing 80 percent of labor flows across US states in the period 1976 2008. The data suggest heterogeneous responses of both employment and n...

We propose applying the standard aggregate demand and supply model (AD-AS) to housing market. It is a very simple intuitive tool that can help shed light on major forces at play in market supplement use of general equilibrium dynamic stochastic models (DSGE). The latter are sophisticated aim cover many aspects economy, but they require significant number long time series estimate parameters. Ho...

Purpose This paper examines the impact of using reserve requirements, combined with foreign exchange (FX) intervention, as key instruments in an inflation-targeting framework. Design/methodology/approach In context a dynamic stochastic general equilibrium (DSGE) framework and Bayesian techniques, authors estimate model for Indonesian economy quarterly data spanning period 2005Q2–2019Q4. Finding...

The neoclassical growth model has emphasised the importance of technology shocks, which supposedly affect macroeconomic variables’ heterogeneously in a small open economy like Sierra Leone. Using Bayesian DSGE methodology for non-linear model, we found that investment-specific technological shock partly explains business cycle fluctuations Moreover, analysis indicates on output, capital, and co...

Economic growth is the most common goal in any economy, and capital is one of the most important determinants of growth. In the last few decades, the use of securities in various countries' capital markets has expanded and has become an essential part of the economic system supplying the capital need for investors and other institutions. This study aims to analyze the effect of securities used ...

New Keynesian dynamic stochastic general equilibrium (DSGE) models have been developed for monetary policy analysis in open economies. For this purpose, the basic model must be enriched with the sources of nominal and real rigidities which are capable of explaining the observed output and inflation persistence. Under this perspective, we use the Bayesian approach to estimate and compare alterna...

In this study, a model of Bayesian Dynamic Stochastic General Equilibrium (DSGE) from Real Business Cycles (RBC) approach with the aim of identifying the factors shaping price bubbles of Tehran Stock Exchange (TSE) was specified. The above-mentioned model was conducted in two scenarios. In the first scenario, the baseline model with sentiment shock was examined. In this model, stock price bubbl...

This paper develops a novel tractable overlapping generations (OLG) structure whose aggregate equations resemble model of an infinitely lived representative agent, except that there are no transversality conditions in the OLG economy. The main assumptions complete markets and time-invariant (but age-dependent) consumption shares age-groups. tractability here distinguishes it from conventional m...