A Working Model of Slump and Recovery from Disturbances to Capital-Goods Demand in a Closed Non-Monetary Economy

Certain long swings in activity may involve one or more non-monetary mechanisms not yet studied. Unlike the fundamentally classical “real” theory of the business cycle refined in this decade, the emerging line of “real” models called structuralist, such as the model here, hinges on the long time req...

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Bibliographic Details
Corporate Author: International Monetary Fund
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1988
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a A Working Model of Slump and Recovery from Disturbances to Capital-Goods Demand in a Closed Non-Monetary Economy 
260 |a Washington, D.C.  |b International Monetary Fund  |c 1988 
300 |a 26 pages 
653 |a Interest rates 
653 |a Wealth 
653 |a Institutional Investors 
653 |a Economics 
653 |a Real wages 
653 |a Stocks 
653 |a Pension Funds 
653 |a Finance 
653 |a Labour 
653 |a Saving 
653 |a Wages, Compensation, and Labor Costs: General 
653 |a Real interest rates 
653 |a Financial Instruments 
653 |a Labor 
653 |a Non-bank Financial Institutions 
653 |a Labor Economics: General 
653 |a Investments: Stocks 
653 |a Banks and Banking 
653 |a Consumption 
653 |a Macroeconomics 
653 |a Macroeconomics: Consumption 
653 |a Wages 
653 |a Interest Rates: Determination, Term Structure, and Effects 
653 |a Investment & securities 
653 |a Income economics 
653 |a Labor economics 
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520 |a Certain long swings in activity may involve one or more non-monetary mechanisms not yet studied. Unlike the fundamentally classical “real” theory of the business cycle refined in this decade, the emerging line of “real” models called structuralist, such as the model here, hinges on the long time required for complete adjustment of implicit labor contracts to real shocks disturbing labor demand. The structuralist model here describes the depression and recovery resulting from shocks in time preference, the public debt, or labor supply whose impact drives up the real rate of interest and drives down the real demand-price of investment goods