How Long to Read Aggregate Stability and Balanced-Budget Rules

How Long Does it Take to Read Aggregate Stability and Balanced-Budget Rules?

It takes the average reader and 26 minutes to read Aggregate Stability and Balanced-Budget Rules by Matteo Ghilardi

Assuming a reading speed of 250 words per minute. Learn more

Description

It has been shown that under perfect competition and a Cobb-Douglas production function, a basic real business cycle model may exhibit indeterminacy and sunspot fluctuations when income tax rates are determined by a balanced-budget rule. This paper introduces in an otherwise standard real business cycle model a more general and data coherent class of production functions, namely a constant elasticity of substitution production function. We show that the degree of substitutability between production factors is a key ingredient to understand the (de)stabilising properties of a balanced-budget rule. Then we calibrate the model consistently with the empirical evidence, i.e. we set the elasticity of substitution between labour and capital below unity. We show that compared to the Cobb-Douglas case, the likelihood of indeterminacy under a balanced-budget rule is greatly reduced in the United States, the European Union and the United Kingdom.

How long is Aggregate Stability and Balanced-Budget Rules?

Aggregate Stability and Balanced-Budget Rules by Matteo Ghilardi is 26 pages long, and a total of 6,656 words.

This makes it 9% the length of the average book. It also has 8% more words than the average book.

How Long Does it Take to Read Aggregate Stability and Balanced-Budget Rules Aloud?

The average oral reading speed is 183 words per minute. This means it takes and 36 minutes to read Aggregate Stability and Balanced-Budget Rules aloud.

What Reading Level is Aggregate Stability and Balanced-Budget Rules?

Aggregate Stability and Balanced-Budget Rules is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Aggregate Stability and Balanced-Budget Rules?

Aggregate Stability and Balanced-Budget Rules by Matteo Ghilardi is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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