01732cas a2200241 a 4500 AALejournalIMF010005 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451954609 1018-5941 BD-DhAAL BD-DhAAL International Monetary Fund. A Working Model of Slump and Recovery from Disturbances to Capital-Goods Demand in a Closed Non-Monetary Economy. Washington, D.C. : International Monetary Fund, 1988. 1 online resource (26 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Certain long swings in activity may involve one or more non-monetary mechanisms not yet studied. Unlike the fundamentally classical 'real' theory of the business cycle refined in this decade, the emerging line of 'real' models called structuralist, such as the model here, hinges on the long time required for complete adjustment of implicit labor contracts to real shocks disturbing labor demand. The structuralist model here describes the depression and recovery resulting from shocks in time preference, the public debt, or labor supply whose impact drives up the real rate of interest and drives down the real demand-price of investment goods. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1988/082 Full text available on IMF http://elibrary.imf.org/view/journals/001/1988/082/001.1988.issue-082-en.xml IMF e-Library