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Hayashi meets Kiyotaki and Moore : a theory of capital adjustment cost
Wang, Pengfei; Wen, Yi - 2010
Persistent link: https://www.econbiz.de/10008668603
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Hayashi Meets Kiyotaki and Moore : A Theory of Capital Adjustment Costs
Wang, Pengfei - 2011
capital adjustment cost functions identical to those assumed by Hayashi (1982) and (ii) explain the weak empirical …
Persistent link: https://www.econbiz.de/10013132690
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Hayashi meets Kiyotaki and Moore : a theory of capital adjustment costs
Wang, Pengfei; Wen, Yi - In: Review of economic dynamics 15 (2012) 2, pp. 207-225
Persistent link: https://www.econbiz.de/10010218754
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A Bayesian dynamic stochastic general equilibrium model of stock market bubbles and business cycles
Miao, Jianjun; Wang, Pengfei; Xu, Zhiwei - In: Quantitative Economics 6 (2015) 3, pp. 599-635
We present an estimated dynamic stochastic general equilibrium model of stock market bubbles and business cycles using Bayesian methods. Bubbles emerge through a positive feedback loop mechanism supported by self-fulfilling beliefs. We identify a sentiment shock that drives the movements of...
Persistent link: https://www.econbiz.de/10011599686
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Credit search and credit cycles
Dong, Feng; Wang, Pengfei; Wen, Yi - 2015 - This version: August 2015
Persistent link: https://www.econbiz.de/10011392252
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A Bayesian dynamic stochastic general equilibrium model of stock market bubbles and business cycles
Miao, Jianjun; Wang, Pengfei; Xu, Zhiwei - In: Quantitative economics : QE ; journal of the … 6 (2015) 3, pp. 599-635
Persistent link: https://www.econbiz.de/10011440574
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A Q-theory model with lumpy investment
Miao, Jianjun; Wang, Pengfei - In: Economic theory : official journal of the Society for … 57 (2014) 1, pp. 133-159
Persistent link: https://www.econbiz.de/10010416687
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Credit search and credit cycles
Dong, Feng; Wang, Pengfei; Wen, Yi - In: Economic theory : official journal of the Society for … 61 (2016) 2, pp. 215-239
Persistent link: https://www.econbiz.de/10011479813
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A search-based neoclassical model of capital reallocation
Dong, Feng; Wang, Pengfei; Wen, Yi - 2018 - This version: July, 2018
As a form of investment, the importance of capital reallocation between firms has been increasing over time, with the … purchase of used capital accounting for 25% to 40% of firms total investment nowadays. Cross- firm reallocation of used capital … also exhibits intriguing business-cycle properties, such as (i) the illiquidity of used capital is countercyclical (or the …
Persistent link: https://www.econbiz.de/10011911555
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A Bayesian dynamic stochastic general equilibrium model of stock market bubbles and business cycles
Miao, Jianjun; Wang, Pengfei; Xu, Zhiwei - In: Quantitative economics : QE ; journal of the … 6 (2015) 3, pp. 599-635
We present an estimated dynamic stochastic general equilibrium model of stock market bubbles and business cycles using Bayesian methods. Bubbles emerge through a positive feedback loop mechanism supported by self-fulfilling beliefs. We identify a sentiment shock that drives the movements of...
Persistent link: https://www.econbiz.de/10011757753