Series: IMF Working Papers
Author(s): Christopher Adam , and Edward Buffie
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 31 January 2020
Keywords: Real sector, Price indexes, Employment, Labor market characteristics, Human capital, climate economics, disaster risk, macro feedbacks, multi-phase macro model, monetary and financial policies
We show that a dynamic general equilibrium model with efficiency wages and endogenous capital accumulation in both the formal and (non-agricultural) informal sectors can explain the full range of confounding styliz...