| dc.creator |
Knüppel, Malte |
|
| dc.date |
2008 |
|
| dc.date.accessioned |
2013-10-16T07:06:29Z |
|
| dc.date.available |
2013-10-16T07:06:29Z |
|
| dc.date.issued |
2013-10-16 |
|
| dc.identifier |
http://hdl.handle.net/10419/19713 |
|
| dc.identifier |
ppn:558636241 |
|
| dc.identifier |
RePEc:zbw:bubdp1:7036 |
|
| dc.identifier.uri |
http://koha.mediu.edu.my:8181/xmlui/handle/10419/19713 |
|
| dc.description |
In this paper, we investigate the ability of a modified RBC model to reproduce asymmetries observed for macroeconomic variables over the business cycle. In order to replicate the empirical skewness of major U.S. macroeconomic variables, we introduce a capacity constraint into an otherwise prototypical RBC model. This constraint emerges due to the assumption of kinked marginal costs of utilization, where the kink is located at a utilization rate of 100 percent. We find that a model with a suitably calibrated cost function reproduces the empirical coefficients of skewness remarkably well. |
|
| dc.language |
eng |
|
| dc.relation |
Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2008,01 |
|
| dc.rights |
http://www.econstor.eu/dspace/Nutzungsbedingungen |
|
| dc.subject |
E32 |
|
| dc.subject |
ddc:330 |
|
| dc.subject |
Capacity utilization |
|
| dc.subject |
capacity constraints |
|
| dc.subject |
asymmetry |
|
| dc.subject |
RBC model |
|
| dc.subject |
Real Business Cycle |
|
| dc.subject |
Wirtschaftspotenzial |
|
| dc.subject |
Bottleneck |
|
| dc.subject |
Theorie |
|
| dc.subject |
USA |
|
| dc.title |
Can capacity constraints explain asymmetries |
|
| dc.type |
doc-type:workingPaper |
|