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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 - 2020

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

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

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

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

A DSGE Model with Endogenous Term Structure

Falagiarda, Matteo - 2012

In this paper, we propose a DSGE model with the term structure of interest rates drawing on the framework introduced by Andrés et al. (2004) and Marzo et al. (2008). In particular, we reproduce segmentation in financial markets by introducing bonds of different maturities and bond adjustment...

Persistent link: https://www.econbiz.de/10013105632

Solution methods for models with rare disasters

Fernández-Villaverde, Jesús; Levintal, Oren - In: Quantitative economics : QE ; journal of the … 9 (2018) 2, pp. 903-944

This paper compares different solution methods for computing the equilibrium of dynamic stochastic general equilibrium (DSGE) models with rare disasters along the lines of those proposed by Rietz (1988), Barro (2006), Gabaix (2012), and Gourio (2012). DSGE models with rare disasters require...

Persistent link: https://www.econbiz.de/10011994514

Assessing the economic content of direct and indirect business uncertainty measures

Glocker, Christian; Hölzl, Werner - 2019 - This version: January 2019

We introduce a novel measure of uncertainty that is based on a business survey in which firms are asked directly how certain or uncertain they are. So far the literature has tried to capture economic uncertainty indirectly by means of expectation errors or the extent of disagreement. Our direct...

Persistent link: https://www.econbiz.de/10011967403