DHAWAN, RAJEEV; JESKE, KARSTEN - In: Journal of Money, Credit and Banking 40 (2008) 7, pp. 1357-1377
We create a model with a distinction between investment in consumer durables and capital goods, as well as energy use by households and firms, to evaluate the importance of energy price shocks for output fluctuations. Simulation results indicate that this economy has a smaller proportion of...