Nominal price rigidity, money supply endogeneity, and business cycles

Article Abstract:

The relationship between nominal price rigidity on one hand and inflation, business cycles and output was examined in a dynamic general equilibrium model composed of households, firms and government, taking into account post-war economic data. It was concluded that nominal price rigidity models offered a better explanation of the association between output and inflation compared to flexible price models. It was further suggested that an endogenous money supply would have little effect on the results of the model.

Prices, Inflation (Finance), Industrial productivity, Money supply, Inflation (Economics)

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On measuring the welfare cost of business cycles

Article Abstract:

Research investigating the costs and benefits of eliminations of business cycles and aggregate fluctuations is presented. Particular attention is given to estimates of the business cycles' welfare costs with specific reference to time-non-separabilities.

Finance

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Wages, business cycles, and comparative advantage

Article Abstract:

A new macroeconomic model explores the link between wages, business cycles and comparative advantage.

Models, Economic research

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