Output Gap Uncertainty, Sovereign Risk Premia and the Contingent Importance of the Bond Vigilantes
ABSTRACT This paper investigates the implications of output gap uncertainty for the conduct of fiscal policy using a small‐scale macroeconomic model with boundedly rational agents. Specifically, agents use an adaptive updating mechanism to approximate the unobservable potential output that suffers, similarly to the Hodrick and Prescott (1997) filter ...
Christian R. Proaño, Jonas Dix
wiley +1 more source
Measuring financial sector efficiency in China: A study based on an enhanced neoclassical production function. [PDF]
Zheng C, Shan Y.
europepmc +1 more source
Pseudo, or Not? Neo‐Goodwinian Growth Cycles With Financial Linkages
ABSTRACT A profit‐led Goodwin mechanism generates the observed counterclockwise activity–labor share cycle. Introducing a financial linkage can reproduce this pattern even when demand is not profit‐led. This paper extends neo‐Goodwinian theory by incorporating the valuation ratio into a four‐dimensional model.
Rudiger von Arnim, Luis Felipe Eick
wiley +1 more source
Rethinking Economic Measurement Using Statistical Ensembles. [PDF]
Abel C.
europepmc +1 more source
Racial Inequality, Growth and Distribution
ABSTRACT A post‐Keynesian‐Kaleckian model along structuralist lines is developed to incorporate the issue of racial inequality into the analysis of growth and distribution. It draws on ideas presented in the literature about the relationship between class inequality between capitalists and workers, and racial inequality between White and Black workers,
Amitava Krishna Dutt
wiley +1 more source
Biodiversity risks and corporate innovation: Evidence from China. [PDF]
Lin Y, Song Z.
europepmc +1 more source
Iran's Forward Defense in Sub‐Saharan Africa
Abstract This article examines Iran's security and defense initiatives in sub‐Saharan Africa between 1990 and 2024 and how they reflect the extraterritorial application of the regime's forward defense doctrine. In response to the long‐term erosion of its homeland defense capabilities since the Iran‐Iraq War of the 1980s—driven by infrastructure ...
Ariel Limanya Limbu, Ronen A. Cohen
wiley +1 more source
The impact of carbon emissions trading on innovation bubbles in manufacturing enterprises. [PDF]
Lyu Z, Li G.
europepmc +1 more source
What Are The Drivers of Labor Productivity in Italy?
ABSTRACT This paper introduces a novel sign restriction identification within a structural Bayesian vector autoregression (VAR) to analyse how labour productivity responds to supply and demand shocks and to quantify the contribution of shocks to cyclical fluctuations.
Josué Diwambuena, Francesco Ravazzolo
wiley +1 more source
Effect of convective transport in edge and scrape-off-layer plasmas of ADITYA-U tokamak. [PDF]
Dey R +9 more
europepmc +1 more source

