little evidence for them. We argue that this outcome could be due to episodic failure of cointegration, possible two …

We estimate a New-Neoclassical Synthesis model of the business cycle with two investment shocks. The first, an … 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 …

cointegration between the different measures and taking their monthly release calendar seriously. We also combine all existing …