Add to ORKGA Real Business Cycle model of the UK is developed to account for the behaviour of UK nonstationary macro data. The model is tested by the method of indirect inference, bootstrapping the errors to generate 95% confidence limits for a VECM representation of the data; we find the model can explain the behaviour of main variables (GDP, real exchange rate, real interest rate) but not that of detailed GDP components. We use the model to explain how ‘crisis’ and ‘euphoria’ are endemic in capitalist behaviour due to nonstationarity; and we draw some policy lessons
This paper analyzed the interplay between banking crises and the business cycle behaviour and its im...
Even long before the recent financial and economic crisis of 2007/2008 economists were more than awa...
The goal of the paper is to investigate whether the behavior of a DSGE model changes as crisis data ...
A Real Business Cycle model of the UK is developed to account for the behaviour of UK nonstationary ...
A Real Business Cycle model of the UK is developed to account for the behaviour of UK nonstationary ...
A Real Business Cycle model of the UK is developed to account for the behaviour of UK non-stationary...
Crises are triggered by the inherent uncertainty of the capitalist system. We represent this uncerta...
We add the Bernanke-Gertler-Gilchrist model to a world model consisting of the US, the Euro-zone and...
This paper attempts to simulate endogenous cyclical behaviour through variations on the standard rea...
Modern macroeconomic models have been widely criticised as relying too much on rationality and marke...
This paper establishes the ability of a Real Business Cycle model to account for UK real exchange ra...
We add the Bernanke-Gertler-Gilchrist model to a modified version of the Smets-Wouters model of the ...
This paper develops a simple New Keynesian model incorporating a small time-varying probability that...
We add the Bernanke–Gertler–Gilchrist model to a modified version of the Smets–Wouters model of the ...
This paper analyzed the interplay between banking crises and the business cycle behaviour and its im...
Even long before the recent financial and economic crisis of 2007/2008 economists were more than awa...
The goal of the paper is to investigate whether the behavior of a DSGE model changes as crisis data ...
A Real Business Cycle model of the UK is developed to account for the behaviour of UK nonstationary ...
A Real Business Cycle model of the UK is developed to account for the behaviour of UK nonstationary ...
A Real Business Cycle model of the UK is developed to account for the behaviour of UK non-stationary...
Crises are triggered by the inherent uncertainty of the capitalist system. We represent this uncerta...
We add the Bernanke-Gertler-Gilchrist model to a world model consisting of the US, the Euro-zone and...
This paper attempts to simulate endogenous cyclical behaviour through variations on the standard rea...
Modern macroeconomic models have been widely criticised as relying too much on rationality and marke...
This paper establishes the ability of a Real Business Cycle model to account for UK real exchange ra...
We add the Bernanke-Gertler-Gilchrist model to a modified version of the Smets-Wouters model of the ...
This paper develops a simple New Keynesian model incorporating a small time-varying probability that...
We add the Bernanke–Gertler–Gilchrist model to a modified version of the Smets–Wouters model of the ...
This paper analyzed the interplay between banking crises and the business cycle behaviour and its im...
Even long before the recent financial and economic crisis of 2007/2008 economists were more than awa...
The goal of the paper is to investigate whether the behavior of a DSGE model changes as crisis data ...
_in_2014.svg%3Fwidth%3D300&w=3840&q=75)
.jpg%3Fwidth%3D300&w=3840&q=75)
.jpg%3Fwidth%3D300&w=3840&q=75)