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 …

money demand falls, while a positive goods productivity shock raises temporary output and velocity. The paper explains such … important for velocity during less stable times and the goods productivity shock more important during stable times. -- business …

money demand falls, while a positive goods productivity shock raises temporary output and velocity. The paper explains such … important for velocity during less stable times and the goods productivity shock more important during stable times …

spread shocks on the U.S. business cycle. We find that the shocks to the investment specific technology and the preference … are the main source of the fluctuation in the investment to output ratio. Credit spread shocks also had a significant … impact on the output during the recent financial crisis. -- Credit Spread ; Business Cycles ; Investment Specific Technology …