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Browsing ADEMU Working Papers Series by Subject "Limit cycle"

Browsing ADEMU Working Papers Series by Subject "Limit cycle"

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  • Beaudry, Paul; Galizia, Dana; Portier, Franck (2016-05)
    In most modern macroeconomic models, the steady state (or balanced growth path) of the system is a local attractor, in the sense that, in the absence of shocks, the economy would converge to the steady state. In this paper, ...
  • Beaudry, Paul; Galizia, Dana; Portier, Franck (2018-03)
    Are business cycles mainly a response to persistent exogenous shocks, or do they instead reflect a strong endogenous mechanism which produces recurrent boom-bust phenomena? In this paper we present new evidence in favour ...

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