Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/205239 
Autor:innen: 
Erscheinungsjahr: 
2019
Quellenangabe: 
[Journal:] Post-Communist Economies [ISSN:] 1465-3958 [Issue:] forthcoming [Publisher:] Taylor & Francis [Place:] London [Year:] 2019
Verlag: 
Taylor & Francis, London
Zusammenfassung: 
We introduce investment-speci fic technological change (ISTC) into an otherwise standard real-business-cycle setup with a government sector. We calibrate the model to Bulgarian data for the period following the introduction of the currency board arrangement (1999-2018). We then investigate the quantitative importance of the ISTC process in such a model for cyclical fluctuations in Bulgaria, and compare the results to a setup where cycles are driven by shocks to total factor productivity. We find that the model with ISTC shocks matches Bulgarian data better than the standard model driven by changes to total factor productivity only. The ISTC process is thus a better candidate for a a "technology shock generation process," at least in Bulgaria since the 2000s.
Schlagwörter: 
business cycles
investment-speci fic technology change
JEL: 
E24
E32
DOI der veröffentlichten Version: 
Dokumentart: 
Article
Dokumentversion: 
Accepted Manuscript (Postprint)
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