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Indeterminacy in a small open economy with endogenous labor supply
by: shinta, 15 pagesWe establish conditions under which indeterminacy can occur in a small open economy business cycle model with endogenous labor supply. Indeterminacy requires small externalities in ...
REVISITING THE W ELFARE EFFECTS OF ELIMINATING BUSINESS CYCLES
by: shinta, 40 pagesWe investigate the welfare effects of eliminating business cycles in a model with substantial consumer heterogeneity. The heterogeneity arises from uninsurable and idiosyncratic un- ...
Consumption, wealth and business cycles: why is Germany different?
by: samanta, 60 pagesThis paper studies the long-run relationship between consumption, asset wealth and income —the consumption-wealth ratio—in Germany, based on data from 1980 to 2003. Earlier papers for the ...
Business cycles and FDI: evidence from German sectoral data
by: samanta, 48 pagesGlobalization has affected business cycle developments in OECD countries and has increased activities of firms across national borders. This paper analyzes whether these two developments are linked. ...
Monetary policy rules in the open economy: effects on welfare and business cycles
by: samanta, 27 pagesThis paper computes welfare maximizing Taylor-style interest rate rules, in a business cycle model of a small open economy. The model assumes staggered price setting and shocks to domestic ...
Resilience, consumption smoothing and structural policies
by: samanta, 23 pagesAdynamic stochastic general equilibrium model with non-clearing labour markets and imperfect competition is estimated for 21 OECD countries. The model provides for parameters both for ...
Corporate Governance over the Business Cycle
by: samanta, 34 pagesI provide empirical evidence that badly governed firms respond more to aggregate shocks than do well governed firms. I build a simple model where managers are prone to over-invest and where ...
What Happens During Recessions, Crunches and Busts?
by: samanta, 77 pagesWe provide a comprehensive empirical characterization of the linkages between key macroeconomic and financial variables around business and financial cycles for 21 OECD countries over the period ...
Lucas vs. Lucas: On Inequality and Growth
by: samanta, 41 pagesLucas (2004) asserts that "Of the tendencies that are harmful to sound economics, the most seductive, and in my opinion the most poisonous, is to focus on questions of distribution... The potential ...
Economic indicators for the US transportation sector
by: samanta, 16 pagesSince the transportation sector plays an important role in business cycle propagation, we develop indicators for this sector to identify its current state, and predict its future. We define the ...
