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dc.contributor.authorKnüppel, Malteen
dc.date.accessioned2009-01-28T16:02:11Z-
dc.date.available2009-01-28T16:02:11Z-
dc.date.issued2008-
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
dc.language.isoengen
dc.publisher|aDeutsche Bundesbank |cFrankfurt a. M.en
dc.relation.ispartofseries|aDiscussion Paper Series 1 |x2008,01en
dc.subject.jelE32en
dc.subject.ddc330en
dc.subject.keywordCapacity utilizationen
dc.subject.keywordcapacity constraintsen
dc.subject.keywordasymmetryen
dc.subject.keywordRBC modelen
dc.subject.stwReal Business Cycleen
dc.subject.stwWirtschaftspotenzialen
dc.subject.stwBottlenecken
dc.subject.stwTheorieen
dc.subject.stwUSAen
dc.titleCan capacity constraints explain asymmetries-
dc.typeWorking Paperen
dc.identifier.ppn558636241en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:bubdp1:7036en

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