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Determinacy through intertemporal capital adjustment costs

✍ Scribed by Berthold Herrendorf; Ákos Valentinyi


Book ID
114362044
Publisher
Elsevier Science
Year
2003
Tongue
English
Weight
160 KB
Volume
6
Category
Article
ISSN
1096-0929

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Functional equivalence between intertemp
✍ Jinill Kim 📂 Article 📅 2003 🏛 Elsevier Science 🌐 English ⚖ 151 KB

Two types of adjustment cost speciÿcations coexist in macroeconomic models with investment: intertemporal adjustment costs which involve a nonlinear substitution between capital and investment in capital accumulation, and multisectoral costs which are captured by a nonlinear transformation between c