Snippets from the this week's NEP-MAC

2009-01-29 · Original WordPress address

That's New Economic Papers - Macroeconomics:

"We provide empirical support for a DSGE model with nominal wage stickiness where growth is driven by learning-by-doing and money shocks and their variance are allowed to impact on long-run output growth."
"We extend and estimate the initial model on US data to account for specific shocks that destroy the stock of capital and..."
"Our model is calibrated to match the steady-state distribution of price adjustments in microdata; realism calls for firm-specific shocks."
"...we address the causes of the Roaring Twenties in the United States. In particular, we use a version of the real business cycle model to test the hypothesis..."
"Household Labor Supply and Home Services in a General-Equilibrium Model with Heterogeneous Agents"

Out of about 30 papers, there was one pure theory paper and the rest were testing models with real live data. Its uncertain if these authors were of the fresh- or salt- water variety.