Arbeitspapier
Rule-of-thumb consumers, productivity and hours
In this paper we study the transmission mechanism of productivity shocks in a model with rule-of-thumb consumers. In the literature, this financial friction has been studied only with reference to fiscal shocks. We show that the presence of rule-of-thumb consumers is also very helpful in accounting for recent empirical evidence on productivity shocks. Rule-of-thumb agents, together with nominal and real rigidities, play an important role in reproducing the negative response of hours and the delayed responses of output and consumption after a productivity shock.
- Sprache
-
Englisch
- Erschienen in
-
Series: Danmarks Nationalbank Working Papers ; No. 48
- Klassifikation
-
Wirtschaft
Business Fluctuations; Cycles
- Thema
-
rule-of-thumb consumers
productivity shocks
nominal rigidities
real rigidities
Technischer Fortschritt
Schock
Real Business Cycle
Konsumentenverhalten
Produktivität
Arbeitszeit
Neukeynesianische Makroökonomik
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Furlanetto, Francesco
Seneca, Martin
- Ereignis
-
Veröffentlichung
- (wer)
-
Danmarks Nationalbank
- (wo)
-
Copenhagen
- (wann)
-
2007
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Furlanetto, Francesco
- Seneca, Martin
- Danmarks Nationalbank
Entstanden
- 2007