ENGLISH

Foundations for a Disequilibrium Theory of the Business Cycle: Qualitative Analysis and Quantitative Assessment

By Peter Flaschel , Carl Chiarella , Reiner Franke

Book information

Publisher
Cambridge University Press
Year
2005
ISBN
9780521850254, 0521850258
Open Library ID
OL22709422M
Language
english
Format
PDF
Filesize
6 MB (6500063 bytes)
Pages
550\550
Topic
Business
Library
avaxhome.ws
Time added
2010-05-31 15:29:46

Description

In a non-market-clearing approach to business cycle theory, this book builds an advanced model of economic activity, inflation and income distribution in a Keynesian spirit. After a qualitative analysis of the basic feedback mechanisms, the authors calibrate the model to the stylized facts of the business cycle in the U.S. economy. This calibrated model is used to carry out various macroeconomic simulation studies as well as a detailed study of the macroeconomic impact of various monetary policy rules. It will appeal both to theorists and to applied and policy economists.

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