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Stranded assets, the social cost of carbon, and directed technical change : macroeconomic dynamics of optimal climate policy
Ploeg, Frederick van der; Rezai, Armon - 2016 - September 2014, revised February 2016
The tractable general equilibrium model developed by Golosov et al. (2014), GHKT for short, is modified to allow for stock-dependent fossil fuel extraction costs and partial exhaustion of fossil fuel reserves, a negative impact of global warming on growth, mean reversion in climate damages,...
Persistent link: https://www.econbiz.de/10011434598
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Corporate leverage and the effects of monetary policy on investment : a reconciliation of micro and macro elasticities
Grob, Valentin; Züllig, Gabriel - 2024
We investigate how the level of corporate leverage affects firms' investment response to monetary policy shocks. Based … investment demand more strongly after a contractionary shock, the price of capital declines sharply, which incentivizes all firms … regardless of their leverage to invest relatively more, muting the aggregate decline of investment. We provide empirical evidence …
Persistent link: https://www.econbiz.de/10015062881
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Lumpy investment and state-dependent pricing in general equilibrium
Reiter, Michael; Sveen, Tommy; Weinke, Lutz - 2009
Persistent link: https://www.econbiz.de/10003835611
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Idiosyncratic shocks and the role of nonconvexities in plant and aggregate investment dynamics
Khan, Aubhik; Thomas, Julia K. - 2007
Persistent link: https://www.econbiz.de/10003411342
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Dynamic multi-sector CGE modeling : reply to Aơmann and Hogrefe
Wendner, Ronald; Farmer, Karl - 2008
Persistent link: https://www.econbiz.de/10003934326
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Retained earnings dynamic, internal promotions and Walrasian equilibrium
Beker, Pablo F. (contributor) - 2007
Persistent link: https://www.econbiz.de/10003547097
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Idiosyncratic shocks and the role of nonconvexities in plant and aggregate investment dynamics
Khan, Aubhik; Thomas, Julia K. - 2007
Persistent link: https://www.econbiz.de/10003556263
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Essays on Strategic Behavior and Dynamic Oligopoly Competition
Steinmetz, Alexander - 2009
Persistent link: https://www.econbiz.de/10008656522
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Monetary policy trade-offs in a portfolio model with endogenous asset supply
Schüder, Stefan - 2011
This paper develops an open economy portfolio balance model with endogenous asset supply. Domestic producers finance capital goods through credit and bonds in accordance with debt capital costs as well as through equity assets. Private households hold a portfolio of domestic and foreign assets,...
Persistent link: https://www.econbiz.de/10009161358
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Unemployment, factor substitution, and capital formation
Kaas, Leo; Thadden, Leopold von - 2001
We incorporate a wage bargaining structure in a dynamic general equilibrium model and show how this feature changes short and long-run properties of equilibria compared with a perfectly competitive setting. We discuss how employment, capital, and income shares respond to wage setting shocks and...
Persistent link: https://www.econbiz.de/10011419073