کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5052936 1371362 2009 30 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Business Cycle Dynamics
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Business Cycle Dynamics
چکیده انگلیسی

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 time-differential wage adjustment in a model economy. The models show that the boom produced by a single positive technology shock can be followed by the equivalent of a recession. The models are solved using numerical methods for differential equations, which allow for non-linear dynamics, as opposed to the usual log linearisation.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Economic Analysis and Policy - Volume 39, Issue 2, September 2009, Pages 205-234
نویسندگان
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