| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2367 |
| DP2367 Iceland's Natural Experiment in Supply-Side Economics | |
| Gylfi Zoega; Marco Bianchi; Björn R Gudmundsson | |
| 发表日期 | 2000-01-24 |
| 出版年 | 2000 |
| 语种 | 英语 |
| 摘要 | This paper studies the business-cycle fluctuations predicted by a two-sector endogenous-business-cycle model with sector-specific external increasing returns to scale. It focuses on aspects of actual fluctuations that have been identified both as defining features of the business cycle and as ones that standard real-business-cycle models cannot explain: the autocorrelation function of output growth, the impulse response function of output to demand shocks, and the forecastable movements of output, hours, and consumption. For empirically realistic calibrations of the degree of sector-specific external returns to scale, the results suggest that endogenous fluctuations do not provide the dynamic element that is missing in existing real-business-cycle models. |
| 主题 | International Macroeconomics |
| 关键词 | Business cycles Expectations-driven fluctuations |
| URL | https://cepr.org/publications/dp2367 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531435 |
| 推荐引用方式 GB/T 7714 | Gylfi Zoega,Marco Bianchi,Björn R Gudmundsson. DP2367 Iceland's Natural Experiment in Supply-Side Economics. 2000. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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