Journal ArticleDOI
Production, growth and business cycles: I. The basic neoclassical model
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In this paper, the authors present the neoclassical model of capital accumulation augmented by choice of labor supply as the basic framework of modern real business cycle analysis and explore the implications of the basic model for perfect foresight capital accumulation and for economic fluctuations initiated by impulses to technology.About:
This article is published in Journal of Monetary Economics.The article was published on 1988-03-01. It has received 1945 citations till now. The article focuses on the topics: Capital accumulation & Real business-cycle theory.read more
Citations
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Gross job flows and technology shocks in nondurable and durable goods sectors
TL;DR: In this article, the differences in the dynamics of employment between the nondurable and durable goods sectors were studied and a two-sector Mortensen-Pissarides-type model was developed and two types of technology shocks were considered.
Journal ArticleDOI
Small Noise Asymptotics for a Stochastic Growth Model
Noah Williams,Noah Williams +1 more
TL;DR: In this paper, the authors developed analytic asymptotic methods to characterize time series properties of nonlinear dynamic stochastic models and derived a functional central limit theorem, a large deviation principle, and a moderate deviation principle.
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Trade Openness and Exchange Rate Regimes
Ondra Kamenik,Michael Kumhof +1 more
TL;DR: In this article, the authors evaluate the net welfare gains of inflation targeting over a fixed exchange rate as a function of a country's trade openness, using a multisectoral structural model calibrated to Chile.
Posted Content
Fear of Sovereign Default, Banks, and Expectations-driven Business Cycles
Christopher M. Gunn,Alok Johri +1 more
TL;DR: In this article, the authors explore the possibility that changing expectations about future default themselves can lead to financial stress (as measured by credit spreads) and recessionary outcomes, and investigate how domestic banks can play a role in transmitting the expectation of default into a realized recession through the interaction of the domestic banks' holdings of government debt and their risk-weighted capital requirements.
Proceedings Article
Rethinking growth in information systems research: towards a trans-disciplinary reconceptualization
Holger Schrödl,Paulina Simkin +1 more
TL;DR: This research takes an ontological approach and tries to comprehend the usage of the concept of growth in information systems research and the adjacent research areas of economics, geography, and mathematics.
References
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Co-integration and Error Correction: Representation, Estimation and Testing
TL;DR: The relationship between co-integration and error correction models, first suggested in Granger (1981), is here extended and used to develop estimation procedures, tests, and empirical examples.
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Distribution of the Estimators for Autoregressive Time Series with a Unit Root
David A. Dickey,Wayne A. Fuller +1 more
TL;DR: In this article, the limit distributions of the estimator of p and of the regression t test are derived under the assumption that p = ± 1, where p is a fixed constant and t is a sequence of independent normal random variables.
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A Contribution to the Theory of Economic Growth
TL;DR: In this paper, a model of long run growth is proposed and examples of possible growth patterns are given. But the model does not consider the long run of the economy and does not take into account the characteristics of interest and wage rates.
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Increasing Returns and Long-Run Growth
TL;DR: In this paper, the authors present a fully specified model of long-run growth in which knowledge is assumed to be an input in production that has increasing marginal productivity, which is essentially a competitive equilibrium model with endogenous technological change.
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On the mechanics of economic development
TL;DR: In this article, the authors consider the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development, and compare three models and compared to evidence.