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 …

and the relative price of investment to investigate the relationship between neutral technology and investment … algorithms. The results indicate that total factor productivity and the relative price of investment are, each, well … technology and investment-specific technology follow independent processes is not supported by the features of the time series …

frictions, they are by no means enough to account for the observed economic fluctuations. Investment wedges play a major role …