Endogeneity of Credit or Nominal Rigidities? - France, Vaclav
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This book presents a theoretical model which tries to explain causes of business cycles uctuations and which has its roots in the Post-Keynesian stream of economic thought. According to this model, investment shocks together with endogeneity of money causes business cycles uctuations. This model is compared with existing New Keynesian models which assert that causes of business cycles uctuations are monetary policy shocks together with various nominal and real rigidities. Author uses econometric techniques(impulse-response functions and forecast error variance decomposition) to investigate…mehr

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Produktbeschreibung
This book presents a theoretical model which tries to explain causes of business cycles uctuations and which has its roots in the Post-Keynesian stream of economic thought. According to this model, investment shocks together with endogeneity of money causes business cycles uctuations. This model is compared with existing New Keynesian models which assert that causes of business cycles uctuations are monetary policy shocks together with various nominal and real rigidities. Author uses econometric techniques(impulse-response functions and forecast error variance decomposition) to investigate which phenomenon contributes more to business cycles uctuations. Unfortunately, results do not enable to draw a straightforward conclusion. It seems that both phenomena play a certain role.
Autorenporträt
El autor recibió su licenciatura y maestría en el Instituto de Estudios Económicos de la Universidad de Carlos en Praga (IES). Actualmente (2011) es estudiante de doctorado en el Centro de Investigación Económica y Educación de Posgrado - Instituto de Economía (CERGE-EI) de la Universidad Carolina de Praga. El interés de investigación del autor es la macroeconomía.