Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/262353 
Autor:innen: 
Erscheinungsjahr: 
2022
Quellenangabe: 
[Journal:] Post-Communist Economies [ISSN:] 1465-3958 [Issue:] Latest articles [Publisher:] Taylor & Francis [Place:] Basingstoke [Year:] 2022 [Pages:] 1-18
Verlag: 
Taylor & Francis, Basingstoke
Zusammenfassung: 
We augment an otherwise standard business cycle model with a richer government sector and add modified cash in advance (CIA) and deposit considerations. In particular, both the cash in advanceand deposit constraints of in earlier work are extended to include private investment and government consumption. Also, part of the purchases are made using credit. This specification is then calibrated to Bulgarian data after the introduction of the currency board (1999- 2020), gives a role to money and costly credit in accentuating economic fluctuations. In particular, the modified CIA constraint combines monetary with banking theory, and thus produces a novel mechanism that allows the framework to reproduce better observed variability and correlations among model variables, and those characterising the labour market in particular.
Schlagwörter: 
business cycle
deposit constraint
JEL: 
E32
DOI der veröffentlichten Version: 
Dokumentart: 
Article
Dokumentversion: 
Accepted Manuscript (Postprint)
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