A Working Model of Slump and Recovery from Disturbances to Capital-Goods Demand in a Closed Non-Monetary Economy.

Certain long swings in activity may involve one or more non-monetary mechanisms not yet studied. Unlike the fundamentally classical 'real' theory of the business cycle refined in this decade, the emerging line of 'real' models called structuralist, such as the model here, hinges...

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Detalhes bibliográficos
Autor Corporativo: International Monetary Fund
Formato: Periódico
Idioma:English
Publicado em: Washington, D.C. : International Monetary Fund, 1988.
Colecção:IMF Working Papers; Working Paper ; No. 1988/082
Acesso em linha:Full text available on IMF
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490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a Certain long swings in activity may involve one or more non-monetary mechanisms not yet studied. Unlike the fundamentally classical 'real' theory of the business cycle refined in this decade, the emerging line of 'real' models called structuralist, such as the model here, hinges on the long time required for complete adjustment of implicit labor contracts to real shocks disturbing labor demand. The structuralist model here describes the depression and recovery resulting from shocks in time preference, the public debt, or labor supply whose impact drives up the real rate of interest and drives down the real demand-price of investment goods. 
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830 0 |a IMF Working Papers; Working Paper ;  |v No. 1988/082 
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