In this paper we study the quantitative implications of nominal wage contracts for business cycle fluctuations. We address this issue using a model economy.

27 сент. 2019 г. · The paper focuses on the combination of both real and nominal variables in explaining the cyclical movements of business cycles.

The paper aims to investigate the theoretical progress achieved during the past 3 decades, to clarify nominal and real rigidities and evaluate their impact on ...

RBC theory is a class of new classical macroeconomics models in which business-cycle fluctuations are accounted for by real (in contrast to nominal) shocks. Business cycles · Stylized facts · Calibration · Criticisms

Real business cycle theory, which attributed the effects to classic supply shocks rather than monetary policy.

When both shocks are present with nominal wage contracting, the economy is considerably more volatile than the U.S. economy. In spite of their strong ...

The paper focuses on the combination of both real and nominal variables in explaining the cyclical movements of business cycles. ... Business Cycle Theory.

The paper aims to investigate the theoretical progress achieved during the past 3 decades, to clarify nominal and real rigidities and evaluate their impact on ...

Business Cycle Theory refers to the study of the recurring fluctuations in economic activity that occur over time.

9 янв. 2018 г. · This study extends the Cho–Cooley model by incorporating labor market frictions and efficient bargaining as an alternative contracting scheme in ...