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.
- Sprache
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Englisch
- Erschienen in
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ISSN: 0972-6861 ; Year: 2020 ; Issue: 4 (forthcoming) ; Pages: 47-59 ; Hyderabad, Telangana, India: IUP Publications
- Klassifikation
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Wirtschaft
Business Fluctuations; Cycles
- Thema
-
business cycles
modified cash-in-advance (CIA) constraint
Bulgaria
- Ereignis
-
Geistige Schöpfung
- (wer)
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Vasilev, Aleksandar
- Ereignis
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Veröffentlichung
- (wer)
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IUP Publications
ZBW - Leibniz Information Centre for Economics
- (wo)
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Hyderabad, Telangana, India
- (wann)
-
2020
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Artikel
Beteiligte
- Vasilev, Aleksandar
- IUP Publications
- ZBW - Leibniz Information Centre for Economics
Entstanden
- 2020
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