Arbeitspapier
A Real-Business-Cycle model with endogenous discounting and a government sector
We introduce an endogenous discount factor as in Uzawa (1968) and Schmitt-Grohe and Uribe (2003) into a real-business-cycle setup with Greenwood et al. (1988) preferences and augment the model with a detailed government sector. We calibrate the arti ficial economy to Bulgarian data for the period following the introduction of the currency board arrangement (1999-2016). We investigate the quantitative importance of endogenous discounting for the propagation cyclical fluctuations in Bulgaria. The presence of an endogenous discount factor improves the model performance against data, and in addition this extended setup dominates the standard RBC model framework with a constant discount factor, e.g., Vasilev (2009).
- Language
-
Englisch
- Classification
-
Wirtschaft
- Subject
-
Business cycles
Uzawa preferences
endogenous discounting
Bulgaria
- Event
-
Geistige Schöpfung
- (who)
-
Vasilev, Aleksandar
- Event
-
Veröffentlichung
- (who)
-
ZBW – Leibniz Information Centre for Economics
- (where)
-
Kiel, Hamburg
- (when)
-
2018
- Handle
- Last update
-
10.03.2025, 11:44 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
- Arbeitspapier
Associated
- Vasilev, Aleksandar
- ZBW – Leibniz Information Centre for Economics
Time of origin
- 2018
Other Objects (12)
A Real-Business-Cycle model with endogenous discounting and a government sector
Fiscal policy in a Real-Business-Cycle model with labor-intensive government services and endogenous public sector wages and hours
The role of energy in a real-business-cycle model with an endogenous capital utilization rate and a government sector: the case of Bulgaria (1999-2016)
A real-business-cycle model with reciprocity in labor relations and a government sector
On the cost of rent-seeking by government bureaucrats in a Real-Business-Cycle framework
Notes on Endogenous Growth Models
A business-cycle model with a modified cash-in-advance feature, government sector and one-period nominal wage contracts: the case of Bulgaria
The role of energy in a real-business-cycle model with an endogenous capital utilization rate and a government sector: lessons from Bulgaria (1999-2016)
Progressive taxation and (in)stability in an endogenous growth model with human capital accumulation
A Real-Business-Cycle model with robots: Lessons for Bulgaria
Essays on Real Business Cycle Modeling and the Public Sector
Are "fair" wages quantitatively important for business cycle fluctuations in Bulgaria?
A Real-Business-Cycle model with endogenous discounting and a government sector
Fiscal policy in a Real-Business-Cycle model with labor-intensive government services and endogenous public sector wages and hours
The role of energy in a real-business-cycle model with an endogenous capital utilization rate and a government sector: the case of Bulgaria (1999-2016)
A real-business-cycle model with reciprocity in labor relations and a government sector
On the cost of rent-seeking by government bureaucrats in a Real-Business-Cycle framework
Notes on Endogenous Growth Models
A business-cycle model with a modified cash-in-advance feature, government sector and one-period nominal wage contracts: the case of Bulgaria
The role of energy in a real-business-cycle model with an endogenous capital utilization rate and a government sector: lessons from Bulgaria (1999-2016)
Progressive taxation and (in)stability in an endogenous growth model with human capital accumulation
A Real-Business-Cycle model with robots: Lessons for Bulgaria
Essays on Real Business Cycle Modeling and the Public Sector
Are "fair" wages quantitatively important for business cycle fluctuations in Bulgaria?
A Real-Business-Cycle model with endogenous discounting and a government sector
Fiscal policy in a Real-Business-Cycle model with labor-intensive government services and endogenous public sector wages and hours
The role of energy in a real-business-cycle model with an endogenous capital utilization rate and a government sector: the case of Bulgaria (1999-2016)
A real-business-cycle model with reciprocity in labor relations and a government sector
On the cost of rent-seeking by government bureaucrats in a Real-Business-Cycle framework
Notes on Endogenous Growth Models
A business-cycle model with a modified cash-in-advance feature, government sector and one-period nominal wage contracts: the case of Bulgaria
The role of energy in a real-business-cycle model with an endogenous capital utilization rate and a government sector: lessons from Bulgaria (1999-2016)
Progressive taxation and (in)stability in an endogenous growth model with human capital accumulation
A Real-Business-Cycle model with robots: Lessons for Bulgaria
Essays on Real Business Cycle Modeling and the Public Sector