Wen, Yi (contributor) - 2006
Shocks; Hall�s Residual; Real Business Cycles; Crowding Out; Invest-
ment Dynamics.
JEL Classi�cation: E12, E13, E21, E22, E … shocks to government spending) have a strong tendency to crowd out investment. This crowding-
out e�ect often leads to … preference shocks for
generating procyclical investment because variable capacity utilization reduces the crowding-out
pressure …