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 …

Intangible capital is an important factor of production in modern economies that is generally neglected in business … cycle analyses. We demonstrate that intangible capital can have a substantial impact on business cycle dynamics, especially … if the intangible is complementary with production capacity. We focus on customer capital: the capital embodied in the …