Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/54973 
Kompletter Metadatensatz
DublinCore-FeldWertSprache
dc.contributor.authorBeaudry, Paulen
dc.contributor.authorPortier, Francken
dc.date.accessioned2012-01-27-
dc.date.accessioned2012-01-31T14:14:09Z-
dc.date.available2012-01-31T14:14:09Z-
dc.date.issued2012-
dc.identifier.urihttp://hdl.handle.net/10419/54973-
dc.description.abstractBusiness cycles reflect changes over time in the amount of trade between individuals. In this paper we show that incorporating explicitly intra-temporal gains from trade between individuals into a macroeconomic model can provide new insight into the potential mechanisms driving economic fluctuations as well as modify key policy implications. We first show how a gains from trade approach can easily explain why changes in perceptions about the future (including news about the future and risk shocks) can cause booms and bust. We then turn to fiscal policy, and discuss under what conditions fiscal multipliers can be observed. While much of our analysis is conducted in a flexible price environment, we also present implications of our model for a sticky price environments, as it allows to understand stable-inflation boom-bust cycles. The source of the explicit gains from trade in our setup derives from simply assuming that in the short run workers are not perfect mobile across all sectors of the economy. We provide evidence from the PSID in support of this modeling assumption.en
dc.language.isoengen
dc.publisher|aZentrum für Europäische Wirtschaftsforschung (ZEW) |cMannheimen
dc.relation.ispartofseries|aZEW Discussion Papers |x12-002en
dc.subject.jelE32en
dc.subject.ddc330en
dc.subject.keywordbusiness cycleen
dc.subject.keywordinvestmenten
dc.subject.keywordheterogeneous agentsen
dc.subject.stwKonjunkturen
dc.subject.stwMakroökonomischer Einflussen
dc.subject.stwHandelen
dc.subject.stwPrognoseen
dc.subject.stwWirtschaftspolitiken
dc.subject.stwTheorieen
dc.titleA gains from trade perspective on macroeconomic fluctuations-
dc.typeWorking Paperen
dc.identifier.ppn684335182en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:zewdip:12002en

Datei(en):
Datei
Größe
630.83 kB





Publikationen in EconStor sind urheberrechtlich geschützt.