Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/209975 
Erscheinungsjahr: 
2010
Schriftenreihe/Nr.: 
Working Paper No. 2010/30
Verlag: 
Norges Bank, Oslo
Zusammenfassung: 
Current business cycle models systematically underestimate the correlation between consumption and investment. One reason for this failure is that a positive investment-specific technology shock generally induces a negative consumption response. The objective of this paper is to investigate whether positive consumption responses to investment-specific technology shocks can be obtained in a modern business cycle model. We find that the answer to this question is yes. With a combination of nominal rigidities and non-separable preferences, the consumption response is positive for general parameterisations of the model.
Schlagwörter: 
GHH preferences
investment-specific technology shocks
consumption
nominal rigidities
comovement
JEL: 
E32
Persistent Identifier der Erstveröffentlichung: 
ISBN: 
978-82-7553-587-8
Creative-Commons-Lizenz: 
cc-by-nc-nd Logo
Dokumentart: 
Working Paper
Erscheint in der Sammlung:

Datei(en):
Datei
Größe
515.48 kB





Publikationen in EconStor sind urheberrechtlich geschützt.