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https://hdl.handle.net/10419/19713
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Knüppel, Malte | en |
dc.date.accessioned | 2009-01-28T16:02:11Z | - |
dc.date.available | 2009-01-28T16:02:11Z | - |
dc.date.issued | 2008 | - |
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 |
dc.language.iso | eng | en |
dc.publisher | |aDeutsche Bundesbank |cFrankfurt a. M. | en |
dc.relation.ispartofseries | |aDiscussion Paper Series 1 |x2008,01 | en |
dc.subject.jel | E32 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | Capacity utilization | en |
dc.subject.keyword | capacity constraints | en |
dc.subject.keyword | asymmetry | en |
dc.subject.keyword | RBC model | en |
dc.subject.stw | Real Business Cycle | en |
dc.subject.stw | Wirtschaftspotenzial | en |
dc.subject.stw | Bottleneck | en |
dc.subject.stw | Theorie | en |
dc.subject.stw | USA | en |
dc.title | Can capacity constraints explain asymmetries | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 558636241 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
dc.identifier.repec | RePEc:zbw:bubdp1:7036 | en |
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