Narrow search
Showing 1 - 10 of 183,020
Cover Image
Investment shocks and the relative price of investment
Justiniano, Alejandro; Primiceri, Giorgio E.; … - 2009
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 … broadly, the transformation of savings into future capital input. We find that this shock is the most important driver of U …
Persistent link: https://www.econbiz.de/10003948199
Cover Image
Technology shocks, labour mobility and aggregate fluctuations
Hauser, Daniela - 2014
technology shock. Technology shocks are identified as disturbances that increase relative state productivity in the long run for … heterogeneous responses of both employment and net labour flows across states, conditional on a positive technology shock. We build … net labour flows across states following a technology shock. …
Persistent link: https://www.econbiz.de/10010235884
Cover Image
Investment Shocks and the Relative Price of Investment
Justiniano, Alejandro - 2009
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 … broadly, the transformation of savings into future capital input. We find that this shock is the most important driver of U …
Persistent link: https://www.econbiz.de/10013153123
Cover Image
Labor's Share of the Business Cycle : Do Biased Technology Shocks Cause Business Cycles?
Young, Andrew T. - 2004
A recent paper by Young (2004) demonstrated that biased technical changes, in the form of shocks to labor's share/elasticity, can drive economically large fluctuations in a real business cycle (RBC) model. We examine the cyclical properties of 4 quarterly measures of US labor's share from 1959...
Persistent link: https://www.econbiz.de/10014068566
Cover Image
R&D and aggregate fluctuations
Artuç, Erhan; Pourpourides, Panayiotis M. - 2012
by employing a Vector Autoregression whose shock structure is disciplined by a general equilibrium model. Controlling for …
Persistent link: https://www.econbiz.de/10009530178
Cover Image
R&D and aggregate fluctuations
Artuç, Erhan; Pourpourides, Panayiotis M. - 2012
by employing a Vector Autoregression whose shock structure is disciplined by a general equilibrium model. Controlling for …
Persistent link: https://www.econbiz.de/10010288752
Cover Image
Search complementarities, aggregate fluctuations, and fiscal policy
Fernández-Villaverde, Jesús; Yu, Yang; Zanetti, Francesco - 2019
We develop a quantitative business cycle model with search complementarities in the inter-firm matching process that entails a multiplicity of equilibria. An active equilibrium with strong joint venture formation, large output, and low unemployment coexists with a passive equilibrium with low...
Persistent link: https://www.econbiz.de/10012003850
Cover Image
Uncertainty Shocks and Business Cycles in Brazil : A DSGE Approach
Melo, Caíque - 2019
In this paper we analyze the impact of uncertainty shocks on the Brazilian economy. We use a general equilibrium model in such a way that the transmission channels of the shocks could be identified and we solve the model using a third order approximation for the policy functions since lower...
Persistent link: https://www.econbiz.de/10012889314
Cover Image
Financial Shocks and the Real Economy in a Nonlinear World : A Survey of the Theoretical and Empirical Literature
Silvestrini, Andrea - 2015
In this paper we present an overview of theoretical and empirical contributions exploring the inter-linkages between financial factors and real economic activity. We first revisit the main theoretical approaches that allow financial frictions to be embedded into general equilibrium models, and...
Persistent link: https://www.econbiz.de/10013024293
Cover Image
Perceived Uncertainty Shocks, Excess Optimism-Pessimism, and Learning in the Business Cycle
Chatterjee, Pratiti; Milani, Fabio - 2021
What are the effects of beliefs, sentiment, and uncertainty, over the business cycle? To answer this question, we develop a behavioral New Keynesian macroeconomic model, in which we relax the assumption of rational expectations. Agents are, instead, boundedly rational: they have a...
Persistent link: https://www.econbiz.de/10013315209