We study the balanced growth paths and their stability features of a monetary two-sector endogenous growth model with physical capital and human capital accumulation. The demand of money is motivated ...
We develop a new approach to estimating DSGE models with occasionally binding borrowing constraints and apply it to Mexico’s business cycle and financial crisis history. We propose a new endogenous ...
Bayesian inference and model comparisons are easily performed quite accurately using Gibbs sampling, even if (1) the likelihood is analytically intractable and (2 ...
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