evidence of a "demand granularity", based on investment growth shocks instead. The role of demand in explaining aggregate …

standard neoclassical models cannot generate a simultaneous increase in consumption, investment, and hours in response to news … shocks, and that optimism in these models tends to reduce investment and hours. When technology is vintage specific, however … optimism raises utilization, consumption, investment, hours, and output. -- Expectations ; News ; Business cycles ; Vintage …

investment sectors that has variances 10,000 fold smaller than in the standard RBC TFP shock. Simulated moments are compared to …For US postwar data, the paper explains central consumption, labor, investment and output correlations and volatilities … along with output growth persistence by including a human capital investment sector and a variable physical capital …

investment market frictions did not play a significant role, though increased government consumption aided growth by propping up … demand. In addition, we examine the effective tax rates in India and find that while investment taxes barely fluctuated …

residual as our exogenous shock. Our idea is to quantitatively measure to what extent fluctuations in productivity can account …

contribute in a large part to growth, especially in Brazil and Russia, there is an increasing importance of investment wedge … opposed to traditional shocks to the cyclical component, as well as to standard modifications where we allow for investment … improvements in effective governance in BRICs are consistent with improvements in investment and efficiency wedges that led to …