Titlebook: Wages, Regime Switching, and Cycles; Piero Ferri,Edward Greenberg Book 1992Latest edition Springer-Verlag Berlin · Heidelberg 1992 Arbeits

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Nonlinear Deterministic Theoriesundation fever. In fact, these models, where endogenous fluctuations (either periodic or chaotic) can persist in the absence of exogenous shocks, can be rigorously formulated in equilibrium models in which agents optimize with perfect foresight. As discussed by Boldrin and Woodford (1990), one can s

残废的火焰

Microfoundations of Labor Market Modelingn the previous chapters, which for a long time have been accepted as peculiar aspects of the functioning of the labor market. According to Blanchard (1990, p. 793), “… the crises of the 1970s arose not because the wage-price mechanism was in contradiction with the facts, but because its explanation

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The Dynamic Role of Wages and Pricesin the underlying working of the labor market and in the mechanisms generating the cycle. At closer scrutiny, however, it appears that these models tend to include either the wage equation or the price equation. It is less usual to have both considered. When one introduces both wages and prices, rat

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The Economics of Regime Switching parameters of the equations estimated at the macro level are unstable because of possible changes in the environment. If there is a change in the environment (or the regime), the reduced form parameters become unreliable. The consequent methodological lesson is that models must be based on fundamen

nurture

Antecedent

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除草剂

investigate

The Economics of Regime Switching parameters of the equations estimated at the macro level are unstable because of possible changes in the environment. If there is a change in the environment (or the regime), the reduced form parameters become unreliable. The consequent methodological lesson is that models must be based on fundamen

milligram

An Assessmentand by utilizing the device of regime switching. Since the dynamic implications of the regime-switching technique are considered within a business cycle perspective, the book also contains a critical analysis of business cycle models in general, with particular attention to those centered around the