Visualitza ADEMU Working Papers Series per matèria "Limit cycle"

Ara mostrant els elements 1-2 de 2

Is the macroeconomy locally unstable and why should we care?

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, ...
Putting the cycle back into business cycle analysis

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 ...