𝔖 Bobbio Scriptorium
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Time to Build and Aggregate Fluctuations

✍ Scribed by F. E. Kydland; E. C. Prescott

Book ID
126307400
Publisher
John Wiley and Sons
Year
1982
Tongue
English
Weight
485 KB
Volume
50
Category
Article
ISSN
0012-9682

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πŸ“œ SIMILAR VOLUMES

Time to implement and aggregate fluctuat
Time to implement and aggregate fluctuations
✍ Jean-Olivier Hairault; FranΓ§ois Langot; Franck Portier πŸ“‚ Article πŸ“… 1997 πŸ› Elsevier Science 🌐 English βš– 801 KB

In this paper, we slightly modify the canonical RBC model by adding an implementation lag in the technology, to reproduce the fact that consumption is a leading indicator of output. Indeed, we assume that agents have today some information on the realization of the technology shock that will occur t

Time-to-build and cycles
Time-to-build and cycles
✍ Patrick K Asea; Paul J Zak πŸ“‚ Article πŸ“… 1999 πŸ› Elsevier Science 🌐 English βš– 214 KB

We analyze the dynamics of a simple growth model in which production occurs with a delay while new capital is installed (time-to-build). The time-to-build technology is shown to yield a system of functional (delay) di!erential equations with a unique steady state. We demonstrate that the steady stat