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Time-to-build, monetary shocks, and aggregate fluctuations

✍ Scribed by Miguel Casares

Book ID
113725618
Publisher
Elsevier Science
Year
2006
Tongue
English
Weight
239 KB
Volume
53
Category
Article
ISSN
0304-3932

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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