Global ETD Search
Search theses and dissertations gathered from participating repositories worldwide. Every result links back to the library that holds it. No account is needed.
Results
Showing 1 to 17 of 17 for “"Real business cycle"”.
-
Household production in the Real Business Cycle Model for Finland
Laskettu bruttokansantuote ei perinteisesti sisällä palkatonta kotityötä. Kuitenkin kotitaloustyö on niin rahallisesta kuin ajankäytöllisestä näkökulmasta merkittävää. Vuonna 2016 palkaton kotityö oli Tilastokeskuksen mukaan 39,8% Suomen lasketusta bruttokansantuotteesta, kun vapaaehtoistyö otetaan …
-
A macroeconomic analysis of sectoral price movements in the United States
Analyses of both the business and inflation cycles remain the dominant concerns in macroeconomics since no single theory has yet consistently explained these two phenomena. It is generally agreed however that the assumed degree of short run variability in prices and quantities constitutes the …
-
Essays on self-fulfilling expectations and business cycles
This thesis studies the self-fulfilling business cycles in a dynamic stochastic general equilibrium model with financial market frictions. It consists of three papers. The first paper uncovers a series of belief shocks (a.k.a animal spirits) that drive the U.S. economy from both financial markets …
-
Risk Sharing and Asset Returns in Stochastic Endogenous Growth Models
In chapter three, the asset return and business cycle implications of a stochastic endogenous growth model with heterogeneous agents and incomplete markets are analyzed. The asset market structure of the economy is incomplete in the sense that households in the model economy can trade shares in a …
-
Real Exchange Rate Dynamics in the New Member States of the EU – Run-up to the Euro
… the European Union by proposing a definition of real convergence based on real exchange rate (RER) dynamics. As fluctuations in RER represent deviations from purchasing power parity (PPP), the thesis also adds to the literature on PPP theory. Finally, by proposing basic and extended small open …
-
Real investment and dividend policy in a dynamic stochastic general equilibrium (DSGE) model. Corporate finance at an aggregate level through DSGE models.
… the firm cause optimal aggregate dividends and real investments to be smooth and share prices to be volatile. This finding is consistent with prior empirical observations. 4. I run simulations that support the hypothesis that optimal aggregate dividend policy is similar when the representative …
-
Real investment and dividend policy in a dynamic stochastic general equilibrium (DSGE) model. Corporate finance at an aggregate level through DSGE models.
… the firm cause optimal aggregate dividends and real investments to be smooth and share prices to be volatile. This finding is consistent with prior empirical observations. 4. I run simulations that support the hypothesis that optimal aggregate dividend policy is similar when the representative …
-
Essays in Financial Economics
… macro-finance model that integrates a two-sector real business cycle framework with the government debt valuation equation, which determines the price level without nominal rigidities. Empirically, the response of inflation to risk premium shocks switches from positive to negative around 1998, …
-
Essays in Asset Pricing and Volatility Risk
… plays the ``traditional'' role of depressing the real economy and stock prices, whereas volatility that originates from the investment sector boosts prices and growth; Investment (consumption) sector's technological volatility has a positive (negative) market-price of risk; Investment sector's …
-
The sectoral analysis of business cycles: the role of aggregate and disaggregate shocks
… to the analysis of disaggregate and aggregate business cycles. The motivation for the study comes from the need to assess whether shocks which initially affect specific sectors can induce aggregate output fluctuations. This can occur not only because aggregate output is the sum of sectoral …
-
Three Essays in Natural Resource and Environmental Economics
… expected abatement cost. We use a standard real business cycle (RBC) model to solve for the expected abatement cost under both policies. Unlike previous studies, our results show that under a reasonable model calibration, fixed allowances outperform intensity allowances with as much as 30% …
-
Essays on Markov-Switching Dynamic Stochastic General Equilibrium Models
… to solve the model, and illustrate it using a real business cycle example.</p><p>The second essay considers a model with financial frictions and studies the role of expectations and unconventional monetary policy during financial crises. During a financial crisis, the financial sector …
-
Institutional and macroeconomic policy dynamics in transition economies
… The thesis begins with an analysis of the reallocation of resources. Chapter 2 presents a model in which two groups in society are engaged in strategic interaction. Privileged members of society have the opportunity to allocate resources either to their own productive capacity, or to …
-
Essays on Macroeconomic Dynamics, Credit Intermediation and Financial Stability
… firm and household credit constraints over the business cycle. We construct a real business cycle model with explicit modeling of price and quantity side of housing. This allows us to include both firm and household financing frictions. The model is estimated for the U.S economy using quarterly …
-
Essays on informational frictions in macroeconomics and finance
… of firms and financial institutions over the business cycle and during crises episodes. The first chapter examines how collateral constraints on firm-level investment introduce a powerful two-way feedback between the financial market and the real economy. On one hand, real economic activity …
-
Canaries in the coal mine: Boosted machine learning for the classification of recessions in the eurozone business cycle
… of individual eurozone nations and the eurozone business cycle using a gradient boosted decision tree-based machine learning framework. To facilitate this analysis, XGBoost was used to provide a gradient boosting framework. Using quarterly GDP values for all of the EA19 (with the exception of …