14.33 Research plan IntroductionTraditional macroeconomic models have generally focused on how specific sources of market imperfections can be used to explain various macroeconomic phenomena. While many of them can effectively illustrate potential avenues of macroeconomic fluctuation, they are often not easily extended to accommodate other sources of variation. This inflexibility means that choosing a model implicitly requires making discrete and specific structural assumptions about the economy we hope to model. This article seeks to develop a macroeconomic model that can explicitly illustrate the impact of multiple types of economic rigidities in a common framework. In this way we hope to avoid having to formulate specific structural hypotheses about the economy; instead allowing continuous calibration of the model against a wide range of circumstances. I will begin by providing a preliminary description of the model I hope to develop. Next I will briefly describe the methods I will use in development and empirical testing. Finally, I will provide a description of the data I will be using and the type of results I hope to achieve with it. Model Description The key difference in this model is that instead of implicitly modeling the market behavior by changing constraints on the optimization of the agents, we explicitly model the market as an agent itself and specify its behavior interface with respect to the rest of the agents . In its basic form, the model consists of a continuum of workers with no initial wealth who can produce an output 0 < y < ymax, and another agent representing the market with initial capital C. The model is dynamic in discrete time and has two distinct phases within each time period… half of the sheet… is to describe fluctuations and not growth, data will need to be analyzed before use. The other data we need would include information on changes in a country's market imperfections. This would consist of events such as controlling gas prices or sudden changes in expectations caused by bursting bubbles. This would allow a comparison between the empirical response and that of the model. Results There are three main objectives that this article hopes to achieve: First, it seeks to develop a model that can successfully emulate the qualitative implications of several traditional macroeconomic models. Second, he hopes to find combinations of different imperfections that allow emulation of real-world macroeconomic data. Finally, it seeks to successfully test the viability of the model in predicting the implications of changing market imperfections.