Preference shocks in an RBC model with intangible capital

In this paper, we develop and simulate an RBC model that includes intangible capital as a third factor of production. We study the effects of intra-temporal preference shocks on economic aggregates, employing the undetermined coefficient method of to solve the model. Impulse response functions to preference shocks reveal that demand-side shocks are important in explaining the variations in macroeconomic aggregates.

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Year of publication:	2019
Authors:	Malik, Kashif Zaheer ; Ali, Syed Zahid ; Imtiaz, Ali ; Aftab, Ammar
Published in:	Cogent Economics & Finance. - Abingdon : Taylor & Francis, ISSN 2332-2039. - Vol. 7.2019, 1, p. 1-14
Publisher:	Abingdon : Taylor & Francis
Subject:	Intangible capital \| real business cycle \| preference/demand shocks

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Type of publication:	Article
Type of publication (narrower categories):	Article
Language:	English
Other identifiers:	10.1080/23322039.2019.1586621 [DOI] 1668482290 [GVK] hdl:10419/245208 [Handle] RePEc:taf:oaefxx:v:7:y:2019:i:1:p:1586621 [RePEc]
Classification:	E32 - Business Fluctuations; Cycles ; E37 - Forecasting and Simulation
Source:	EconStor

Persistent link: https://www.econbiz.de/10012657499