Artikel
A business-cycle model with a modified cash-in-advance feature, government sector and one-period nominal wage contracts: the case of Bulgaria
We augment an otherwise standard business cycle model with a richer government sector, and add a modified cash in advance considerations, and one-period-ahead nominal wage contracts. In particular, the cash in advance constraint of Cooley and Hansen (1989) is extended to include private investment and government consumption. This specification, together with the nominal wage rigidity, when calibrated to Bulgarian data after the introduction of the currency board (1999-2016), gives a role to money in propagating economic fluctuations. In addition, the combinations of these ingredients allows the framework to reproduce better observed variability and correlations among model variables, and those characterizing the labor market in particular.
- Language
-
Englisch
- Bibliographic citation
-
Journal: Journal of Mathematical Economics and Finance ; ISSN: 2458-0813 ; Volume: 6 ; Year: 2020 ; Issue: 1(10) ; Pages: 19-38 ; Craiova: Asers Publishing
- Classification
-
Wirtschaft
Business Fluctuations; Cycles
- Subject
-
business cycles
modified cash-in-advance constraint
one-period nominal wage contracts
- Event
-
Geistige Schöpfung
- (who)
-
Vasilev, Aleksandar
- Event
-
Veröffentlichung
- (who)
-
Asers Publishing
- (where)
-
Craiova
- (when)
-
2020
- DOI
-
doi:10.14505/jmef.v6.1(10).00
- Handle
- Last update
-
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
- Asers Publishing
Time of origin
- 2020
Other Objects (12)
A business-cycle model with cash- and credit goods and a modified cash-in-advance feature: lessons for Bulgaria (1999-2020)
A business-cycle model with a modified cash-in-advance feature and government sector: the case of Bulgaria (1999-2018)
A monetary business-cycle model with an augmented cash-in-advance constraint, investment tax credit and a government sector: the case of Bulgaria (1999-2022)
VAT Evasion in Bulgaria: A General-Equilibrium Approach
A Real-Business-Cycle model with robots: Lessons for Bulgaria
Are "fair" wages quantitatively important for business cycle fluctuations in Bulgaria?
Business Cycles in Bulgaria and the Baltic Countries: An RBC Approach
Business Cycles in Bulgaria and the Baltic Countries: An RBC Approach
Are "fair" wages quantitatively important for business cycle fluctuations in Bulgaria?
Is military spending quantitatively important for business cycle fluctuations in Bulgaria
The welfare effect of flat income tax reform: the case of Bulgaria
Are habits important for the propagation of business cycle fluctuations in Bulgaria?
A business-cycle model with cash- and credit goods and a modified cash-in-advance feature: lessons for Bulgaria (1999-2020)
A business-cycle model with a modified cash-in-advance feature and government sector: the case of Bulgaria (1999-2018)
A monetary business-cycle model with an augmented cash-in-advance constraint, investment tax credit and a government sector: the case of Bulgaria (1999-2022)
VAT Evasion in Bulgaria: A General-Equilibrium Approach
A Real-Business-Cycle model with robots: Lessons for Bulgaria
Are "fair" wages quantitatively important for business cycle fluctuations in Bulgaria?
Business Cycles in Bulgaria and the Baltic Countries: An RBC Approach
Business Cycles in Bulgaria and the Baltic Countries: An RBC Approach
Are "fair" wages quantitatively important for business cycle fluctuations in Bulgaria?
Is military spending quantitatively important for business cycle fluctuations in Bulgaria
The welfare effect of flat income tax reform: the case of Bulgaria
Are habits important for the propagation of business cycle fluctuations in Bulgaria?
A business-cycle model with cash- and credit goods and a modified cash-in-advance feature: lessons for Bulgaria (1999-2020)
A business-cycle model with a modified cash-in-advance feature and government sector: the case of Bulgaria (1999-2018)
A monetary business-cycle model with an augmented cash-in-advance constraint, investment tax credit and a government sector: the case of Bulgaria (1999-2022)
VAT Evasion in Bulgaria: A General-Equilibrium Approach
A Real-Business-Cycle model with robots: Lessons for Bulgaria
Are "fair" wages quantitatively important for business cycle fluctuations in Bulgaria?
Business Cycles in Bulgaria and the Baltic Countries: An RBC Approach
Business Cycles in Bulgaria and the Baltic Countries: An RBC Approach
Are "fair" wages quantitatively important for business cycle fluctuations in Bulgaria?
Is military spending quantitatively important for business cycle fluctuations in Bulgaria
The welfare effect of flat income tax reform: the case of Bulgaria