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investment-specific technology shock, affects the transformation of consumption into investment goods and is identified with the … relative price of investment. The second shock affects the production of installed capital from investment goods or, more …We estimate a New-Neoclassical Synthesis model of the business cycle with two investment shocks. The first, an …
Persistent link: https://www.econbiz.de/10013153123
investment-specific technology shock, affects the transformation of consumption into investment goods and is identified with the … relative price of investment. The second shock affects the production of installed capital from investment goods or, more …We estimate a New-Neoclassical Synthesis model of the business cycle with two investment shocks. The first, an …
Persistent link: https://www.econbiz.de/10003948199
exported primary commodities, imported capital goods and intermediate inputs, and a financial shock, modeled as fluctuations in …
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This paper proposes to exploit data on expectations to identify news shocks in business cycles. News shocks work through changes in expectations, so data on expectations contain important information for identification. We demonstrate this by estimating a DSGE model augmented with news shocks...
Persistent link: https://www.econbiz.de/10012972743