Artikel
Does the form of the Aggregate Production Function Matter for Modelling Business Cycle Fluctuations? Lessons for Bulgaria (1999-2018)
We introduce a constant-elasticity-of-substitution (CES) production function into a real-business-cycle setup with a government sector. We calibrate the model to Bulgarian data for the period following the introduction of the currency board arrangement (1999-2018). We investigate the quantitative importance of the degree of substitutability between labor and capital in the aggregate production function, and found that aspect to matter relatively little for the ability of the model to match the magnitude of the observed business cycle fluctuations.
- Sprache
-
Englisch
- Erschienen in
-
Journal: Review of Economics and Finance ; Volume: 18 ; Year: 2020 ; Pages: 81-86 ; Solihull: REF Press
- Klassifikation
-
Wirtschaft
Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
Business Fluctuations; Cycles
- Thema
-
business cycles
CES aggregate production function
Bulgaria
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Vasilev, Aleksandar
- Ereignis
-
Veröffentlichung
- (wer)
-
Refpress
- (wo)
-
Solihull
- (wann)
-
2020
- Handle
- Letzte Aktualisierung
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10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Vasilev, Aleksandar
- Refpress
Entstanden
- 2020
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