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- W1560993313 abstract "The paper discusses the dynamic properties of a macro model with an investment function based upon both real and financial aspects and a labor market ruled by imperfect competition. The model is then enriched by a monetary policy rule and by agents who forecast according to a time series strategy based upon a Markov process. Simulations show the persistence of oscillations even in the presence of the Taylor rule. The relevance of such financial aspects as cash flows and debts can create a trade-off between the control of inflation and the cyclicality of the economy. Furthermore, instability and debt-deflation phenomena can arise." @default.
- W1560993313 created "2016-06-24" @default.
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- W1560993313 date "2007-07-01" @default.
- W1560993313 modified "2023-09-27" @default.
- W1560993313 title "Endogenous cycles, debt and monetary policy" @default.
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