Seasonality and equilibrium business cycle theories
Article Abstract:
A seasonal business cycle model that incorporates the effect of changes in consumer preferences, technology and government contracts is presented. The study evaluated the magnitude of seasonal variation in technology and the effective size of the technological variation that would reflect the changes in seasonal changes using the business cycle model. The results show that the state of technology has a fourth-quarter growth rate of 24% and declines 28% annually in the first quarter. The seasonal cycle is effectively reflected in the business model of the variation in the state of technology falls within this range.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 1995
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On the cyclical allocation of risk
Article Abstract:
A real business cycle model which includes workers and businessmen is simulated to prove if it could account for facts during postwar US business cycle fluctuations. These characterisitics include the countercyclical movement of labor's share of income and the behavior of real wages. It was proven that the model could account for them. An economy-wide market for contingent claims exists where workers buy insurance from entrepreneurs through optimal labor contracts.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 1995
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Indeterminacy in a model with sector-specific externalities
Article Abstract:
Research examining indeterminacy of equilibria in models with externalities specific to particular sectors is presented. It is emphasized that sector-specific externalities result in indeterminacy of models with production operations consisting of consumption and investment sectors.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 2001
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