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Real Business Cycles with Capital Maintenance

Albonico, Alice; Kalyvitis, Sarantis; Pappa, Evi - 2011

We develop a stochastic general equilibrium model in which maintenance endogenously affects the capital depreciation … the short run. We use Bayesian estimation to obtain the time profile of equipment capital depreciation in Canadian … manufacturing. The depreciation rate has been quite volatile and procyclical over the last 50 years. …

Persistent link: https://www.econbiz.de/10010343861

Business Fluctuations and Leverage in the Collateral Constraints

Nah, Won Jun - 2015

This paper develops a simple model with collateralized borrowing constraints to explore the business cycle implications of financial leverage. The degree of leverage is shown to be an important factor in the amplifying role of collateral constraints, suggesting that the financial vulnerability...

Persistent link: https://www.econbiz.de/10013039013

Putty-Clay and Investment : A Business Cycle Analysis

Gilchrist, Simon; Williams, John C. - 1998

This paper develops a dynamic stochastic general equilibrium model with putty-clay technology that incorporates embodied technology, investment irreversibility, and variable capacity utilization. Low short-run capital-labor substitutability native to the putty-clay framework induces the...

Persistent link: https://www.econbiz.de/10014217959

Asymmetric responses of consumer spending to energy prices : a threshold VAR approach

Knotek, Edward S.; Zaman, Saeed - In: Energy economics 95 (2021), pp. 1-13

Persistent link: https://www.econbiz.de/10012816279

Asymmetric responses of consumer spending to energy prices : a threshold VAR approach

Knotek, Edward S.; Zaman, Saeed - 2020

Persistent link: https://www.econbiz.de/10012388135

Financial frictions, trends, and the great recession

Guerrón-Quintana, Pablo A.; Jinnai, Ryo - In: Quantitative economics : QE ; journal of the … 10 (2019) 2, pp. 735-773

We study the causes behind the shift in the level of U.S. GDP following the Great Recession. To this end, we propose a model featuring endogenous productivity à la Romer and a financial friction à la Kiyotaki–Moore. Adverse financial disturbances during the recession and the lack of strong...

Persistent link: https://www.econbiz.de/10012049309

How sensitive are industrial demand and supply to energy price shocks

Iram, Humera; Bin Ridzuan, Abdul Rahim - In: Journal of industrial and business economics 52 (2025) 1, pp. 221-239

Persistent link: https://www.econbiz.de/10015441172

On transmission channels of energy prices and monetary policy shocks to household consumption : evidence from India

Priya, Pragati; Sharma, Chandan - In: Energy economics 136 (2024), pp. 1-21

Persistent link: https://www.econbiz.de/10015046829

DSGE model meets data gently : the importance of trend modelling

Juvonen, Petteri; Sariola, Mikko - 2025

DSGE models are often specified so that the long-run variation of variables is driven by one or two common trends, which rarely holds in the data. We find that when this discrepancy exists, high-frequency components (measurement errors) capture variable-specific time variation in trends. When...

Persistent link: https://www.econbiz.de/10015448555

Aggregate Hours and Local Projections with Long-Run Restrictions

Nusbaum, Charlie - 2020

I extend the local projections method to identify structural shocks using long-run restrictions. I show that the proposed estimator is substantially more robust than structural VARs (SVARs) to both the choice of lag length and the order of integration of the endogenous variables using data from...

Persistent link: https://www.econbiz.de/10012847247