Arbeitspapier
Investment Shocks and Macroeconomic Co-Movement
Recent studies find that shocks to the marginal efficiency of investment are a main driver of business cycles. Yet, they struggle to explain why consumption co-moves with real variables such as investment and output, which is a typical feature of an empirically recognizable business cycle. In this paper we show that within a conventional business cycle model, rule-of-thumb consumption provides a straightforward explanation of macroeconomic co-movement after a shock to the marginal efficiency of investment.
- ISBN
-
978-82-7553-624-0
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 2011/14
- Klassifikation
-
Wirtschaft
Business Fluctuations; Cycles
- Thema
-
investment shocks
consumption
rule-of-thumb consumers
nominal rigidities
co-movement
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Furlanetto, Francesco
Natvik, Gisle James
Seneca, Martin
- Ereignis
-
Veröffentlichung
- (wer)
-
Norges Bank
- (wo)
-
Oslo
- (wann)
-
2011
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Furlanetto, Francesco
- Natvik, Gisle James
- Seneca, Martin
- Norges Bank
Entstanden
- 2011
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