labour and capital below unity. We show that compared to the Cobb-Douglas case, the likelihood of indeterminacy under a …

This paper empirically verifies that the types of capital adjustment costs serve as an important mechanism in relation … affect busin ess cycles. Specifically, it is found through empirical methods using corporate financial data that capital … economy. In particular, capital adjustment costs are empirically proven to cause investment dispersion to expand given that …

which rely not only on labor, but also on capital in the production function. In the presence of capital, the choice of … bargaining, the welfare theorems do not hold, due to a hold-up effect in capital and a hiring externality, so that solving a …