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 …

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 …

returns is developed. It is shown that these economies of scale need only be present in one sector of the economy (investment … as well as a procyclical investment share. The model can account for the observed variability of hours worked …

one (i.e. as a cross-sector shock), also exploring the shocks transmission mechanism across sectors. There are three main …

&D investment. As this is very controversial from an empirical perspective, a stochastic Poisson model of endogenous business cycles … and growth is presented where the determinants of the cyclical behaviour of R&D investment are analytically studied …

&D investment. As this is very controversial from an empirical perspective, a stochastic Poissonmodel of endogenous business cycles … and growth is presented where the determinants of the cyclical behaviour of R&D investment are analytically studied …

sticky as nondurables, leading to a flat relative price response to a monetary shock. Conversely, house prices are estimated …