Artikel
A business-cycle model with a modified cash-in-advance feature and government sector: the case of Bulgaria (1999-2018)
We augment an otherwise standard business cycle model with a richer government sector, and add a modified cash in advance (CIA) considerations. In particular, the cash in advance constraint of Cole (2020) is extended to include private investment and government consumption, and allows a proportion of total expenditure to be done using credit. This specification is then calibrated to Bulgarian data after the introduction of the currency board (1999-2018), gives a role to money in accentuating economic fluctuations. In particular, the modified CIA constraint produces a mechanism that allows the framework to reproduce better observed variability and correlations among model variables, and those characterizing the labor market in particular.
- Language
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Englisch
- Bibliographic citation
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ISSN: 0972-6861 ; Year: 2020 ; Issue: 4 (forthcoming) ; Pages: 47-59 ; Hyderabad, Telangana, India: IUP Publications
- Classification
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Wirtschaft
Business Fluctuations; Cycles
- Subject
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business cycles
modified cash-in-advance (CIA) constraint
Bulgaria
- Event
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Geistige Schöpfung
- (who)
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Vasilev, Aleksandar
- Event
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Veröffentlichung
- (who)
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IUP Publications
ZBW - Leibniz Information Centre for Economics
- (where)
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Hyderabad, Telangana, India
- (when)
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2020
- Handle
- Last update
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10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Vasilev, Aleksandar
- IUP Publications
- ZBW - Leibniz Information Centre for Economics
Time of origin
- 2020
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