Arbeitspapier
Endogenous business cycles and the dynamics of output, hours, and consumption
This paper studies the business-cycle fluctuations predicted by a two-sector endogenous-business-cycle model with sector-specific external increasing returns to scale. It focuses on aspects of actual fluctuations that have been identified both as defining features of the business cycle and as ones that standard real-business-cycle models cannot explain: the autocorrelation function of output growth, the impulse response function of output to demand shocks, and the forecastable movements of output, hours, and consumption. For empirically realistic calibrations of the degree of sector-specific external returns to scale, the results suggest that endogenous fluctuations do not provide the dynamic element that is missing in existing real-business-cycle models.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 1999-15
- Klassifikation
-
Wirtschaft
Business Fluctuations; Cycles
- Thema
-
Business Cycles
Expectations-driven fluctuations
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Schmitt-Grohe, Stephanie
- Ereignis
-
Veröffentlichung
- (wer)
-
Rutgers University, Department of Economics
- (wo)
-
New Brunswick, NJ
- (wann)
-
1999
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Schmitt-Grohe, Stephanie
- Rutgers University, Department of Economics
Entstanden
- 1999
Ähnliche Objekte (12)
Endogenous Repo Cycles
Endogenous Repo Cycles
Endogenous Housing Market Cycles
Endogenous business cycles and growth
Endogenous Business Cycles and Growth
Persistence and cycles in US hours worked
Persistence and cycles in US hours worked
Persistence and cycles in US hours worked
Endogenous Hours and the Wealth of Entrepreneurs
Non-linear dynamics and endogenous cycles
Debt cycles with endogenous interest rate
Debt cycles with endogenous interest rate
Endogenous Repo Cycles
Endogenous Repo Cycles
Endogenous Housing Market Cycles
Endogenous business cycles and growth
Endogenous Business Cycles and Growth
Persistence and cycles in US hours worked
Persistence and cycles in US hours worked
Persistence and cycles in US hours worked
Endogenous Hours and the Wealth of Entrepreneurs
Non-linear dynamics and endogenous cycles
Debt cycles with endogenous interest rate
Debt cycles with endogenous interest rate
Endogenous Repo Cycles
Endogenous Repo Cycles
Endogenous Housing Market Cycles
Endogenous business cycles and growth
Endogenous Business Cycles and Growth
Persistence and cycles in US hours worked
Persistence and cycles in US hours worked
Persistence and cycles in US hours worked
Endogenous Hours and the Wealth of Entrepreneurs
Non-linear dynamics and endogenous cycles
Debt cycles with endogenous interest rate