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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/10003948199
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money demand falls, while a positive goods productivity shock raises temporary output and velocity. The paper explains such … important for velocity during less stable times and the goods productivity shock more important during stable times …
Persistent link: https://www.econbiz.de/10003898790
money demand falls, while a positive goods productivity shock raises temporary output and velocity. The paper explains such … important for velocity during less stable times and the goods productivity shock more important during stable times. -- business …
Persistent link: https://www.econbiz.de/10003919681
spread shocks on the U.S. business cycle. We find that the shocks to the investment specific technology and the preference … are the main source of the fluctuation in the investment to output ratio. Credit spread shocks also had a significant … impact on the output during the recent financial crisis. -- Credit Spread ; Business Cycles ; Investment Specific Technology …
Persistent link: https://www.econbiz.de/10009410485
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This paper studies the business-cycle fluctuations predicted by a two-sector endogenous-business-cycle model with sector-specific external increasing returns to scale. It focuses on aspects of actual fluctuations that have been identified both as defining features of the business cycle and as...
Persistent link: https://www.econbiz.de/10011577136
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money demand falls, while a positive goods productivity shock raises temporary output and velocity. The paper explains such … important for velocity during less stable times and the goods productivity shock more important during stable times. …
Persistent link: https://www.econbiz.de/10010494417