Animal spirits, investment and unemployment: An old Keynesian view of the Great Recession
This paper develops a DSGE model with investment and capital accumulation build along demand-driven explanations of the Great Recession. Specifically, following Farmer (2013), I set forth a search framework in which households decide about consumption while firms decide about recruiting effort as we...
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| Format: | Article |
| Language: | English |
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Elsevier
2015-09-01
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| Series: | EconomiA |
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| Online Access: | http://www.sciencedirect.com/science/article/pii/S1517758015000351 |