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dc.contributor.authorKnüppel, Malteen_US
dc.date.accessioned2009-01-28T16:02:11Z-
dc.date.available2009-01-28T16:02:11Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/19713-
dc.description.abstractIn 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.isoengen_US
dc.relation.ispartofseriesDiscussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2008,01en_US
dc.subject.jelE32en_US
dc.subject.ddc330en_US
dc.subject.keywordCapacity utilizationen_US
dc.subject.keywordcapacity constraintsen_US
dc.subject.keywordasymmetryen_US
dc.subject.keywordRBC modelen_US
dc.subject.stwReal Business Cycleen_US
dc.subject.stwWirtschaftspotenzialen_US
dc.subject.stwBottlenecken_US
dc.subject.stwTheorieen_US
dc.subject.stwUSAen_US
dc.titleCan capacity constraints explain asymmetriesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn558636241en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:bubdp1:7036-
Appears in Collections:Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank

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