Weder, Mark; Sirbu, Anca; Guo, Jang Ting - Verein für Socialpolitik - VfS - 2014
We show that an otherwise standard one-sector real business cycle model with variable capital utilization and mild … contrast to many studies in the existing expectations-driven business cycle literature, this result does not rely on non … positive macroeconomic co-movement and business cycle statistics that are consistent with the data. …