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Deutsche Bundesbank, Forschungszentrum, Frankfurt am Main >
Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/19713
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Knüppel, Malte | | en_US |
| dc.date.accessioned | | 2009-01-28T16:02:11Z | | - |
| dc.date.available | | 2009-01-28T16:02:11Z | | - |
| dc.date.issued | | 2008 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/19713 | | - |
| dc.description.abstract | | 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. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.relation.ispartofseries | | Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2008,01 | | en_US |
| dc.subject.jel | | E32 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Capacity utilization | | en_US |
| dc.subject.keyword | | capacity constraints | | en_US |
| dc.subject.keyword | | asymmetry | | en_US |
| dc.subject.keyword | | RBC model | | en_US |
| dc.subject.stw | | Real Business Cycle | | en_US |
| dc.subject.stw | | Wirtschaftspotenzial | | en_US |
| dc.subject.stw | | Bottleneck | | en_US |
| dc.subject.stw | | Theorie | | en_US |
| dc.subject.stw | | USA | | en_US |
| dc.title | | Can capacity constraints explain asymmetries | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 558636241 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| dc.identifier.repec | | RePEc:zbw:bubdp1:7036 | | - |
| Appears in Collections: | | Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank
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