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In this paper, we develop a two-sector DSGE model with infrequent purchases of durable goods and use it to address the following three issues. Does this model help explain the recent weak recovery? Can this model help resolve the absence of co-movement between durable and non-durable consumption? Is the dynamic behavior of this model similar with that of the (durable goods) stock adjustment-cos...

and "information." Data are empirical measA minicomputer online information retrieval ures of reality. Data do not become information program is described that is designed to faciliuntil they are compiled, processed, and organtate timely distribution of agricultural market ized so that they can have value to a decision news to state and county research and extenmaker (Riemenschneider). The comp...

The seminal work of Engel (1999) establishes a method for measuring the contributions of traded goods and nontraded goods to the fluctuation of real exchange rates. Two difficulties arise: the assumed price aggregation is likely biased, and the needed data on non-traded goods price is often limited. The present work overcomes these difficulties, as follows. First we generalize Engel’s exchange ...

The increase in production and productivity are influencing agricultural wages. But the results of empirical studies have shown a positive relationship between real wages and productivity. It is also observed that the real wages seem to have declined or remained stagnant in spite of increasing agricultural production. However, a close relationship may be found between wages and productivity. Th...

Inclusion of nontraded goods prices has been shown to be partly responsible for slow convergence in price indices across major cities in the United States (Cecchetti et al 2002). Drawing upon insights provided by well known theories, this paper uses panel econometric methods to seek evidence in U.S. city level Consumer Price Index (CPI) data of a systematic long-run relationship between prices ...

in this paper, using kakwani-son method, price elasticity of poverty is calculated for taxed edible goods in the year 2004. this elasticity shows the total effect of price changes on poverty. the total effect is the sum of redistribution and income effects of price change. in fact, the redistribution effect tells us whether an increase in the price of a commodity hurts the poor more than the ri...

The impetus for this dissertation is to explain why well-functioning markets might be able to stay at or near a market equilibrium. We argue that tatonnement, a natural, simple and distributed price update dynamic in economic markets, is a plausible candidate to explain how markets might reach their equilibria. Tatonnement is broadly defined as follows: if the demand for a good is more than the...