Under the influence of today's pandemic, it has led to stagnation production and business operations in various industries shutdown enterprises, bringing serious disasters global economy. In order mitigate loss, governments are adopting policies ensure economic development their countries, such as reducing taxes fees, issuing national bonds, etc. this paper, we will assume a closed economy use ...

T he world economy has experienced a bulk of positive and negative shocks in crude oil prices and exchange rates over the years, and that global inflation has undergone some changes. Such shocks have affected the macroeconomic variables in the countries of the world and have challenged the economies of these countries, and have led them to take different measures to protect themselves agai...

The previous chapter provided a detailed introduction to empirical data concerning the long run growth of the world economy as a whole and to the international economic relations prevailing among nearly 100 nation states. In this chapter we intend to explore within a simple theoretical model the driving forces behind the apparently unbounded growth of the global market economy, and for the mome...

This paper estimates a New Keynesian model with matching frictions and nominal wage rigidities on UK data. The estimation enables the identification of important structural parameters of the British economy, the recovery of the unobservable shocks that affected the UK economy since 1975 and the study of the transmission mechanism. Results show that with matching frictions wage rigidities have l...

After an expansionary monetary policy shock employment increases and unemployment falls. In standard New Keynesian models the fall in aggregate unemployment does not a¤ect employed workers at all. However, Lüchinger, Meier and Stutzer (2010) found that the risk of unemployment negatively a¤ects utility of employed workers: An increases in aggregate unemployment decreases workers’subjective well...

After an expansionary monetary policy shock employment increases and unemployment falls. In standard New Keynesian models the fall in aggregate unemployment does not a¤ect employed workers at all. However, Lüchinger, Meier and Stutzer (2010) found that the risk of unemployment negatively a¤ects utility of employed workers: An increases in aggregate unemployment decreases workers’subjective well...

Indian economy is going through underlying changes in the post-pandemic recovery process. Effects of policies, monetary or fiscal, on macroeconomy need a thorough analysis these recessionary times. In this context, study develops closed-economy DSGE model to see impact policy economy. The includes price rigidities, and parameters are calibrated using data two sectors – intermediate goods final ...