| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w15570 |
| 来源ID | Working Paper 15570 |
| Investment Shocks and Business Cycles | |
| Alejandro Justiniano; Giorgio E. Primiceri; Andrea Tambalotti | |
| 发表日期 | 2009-12-03 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | We study the driving forces of fluctuations in an estimated New Neoclassical Synthesis model of the U.S. economy with several shocks and frictions. In this model, shocks to the marginal efficiency of investment account for the bulk of fluctuations in output and hours at business cycle frequencies. Imperfect competition and, to a lesser extent, technological frictions are the key to their transmission. Labor supply shocks explain a large fraction of the variation in hours at very low frequencies, but are irrelevant over the business cycle. This is important because their microfoundations are widely regarded as unappealing. |
| 主题 | Econometrics ; Estimation Methods ; Macroeconomics ; Business Cycles |
| URL | https://www.nber.org/papers/w15570 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/573246 |
| 推荐引用方式 GB/T 7714 | Alejandro Justiniano,Giorgio E. Primiceri,Andrea Tambalotti. Investment Shocks and Business Cycles. 2009. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w15570.pdf（365KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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