Arbeitspapier

Revisiting the “Productivity-Hours Puzzle” in the RBC Paradigm: The Role of Investment Adjustment Costs

Conventional RBC models have been heavily criticized for their inability to generate the estimated negative correlations of hours and productivity in response to technology shocks ('productivity-hours puzzle'). In this paper we show that by just enhancing the standard frame- work with investment adjustment costs can resolve the 'productivity-hours puzzle'.

Sprache
Englisch

Erschienen in
Series: Quaderni di Dipartimento ; No. 164

Klassifikation
Wirtschaft
Investment; Capital; Intangible Capital; Capacity
Business Fluctuations; Cycles
Thema
technology shocks
productivity-hours puzzle
investment adjustment costs
wealth effect

Ereignis
Geistige Schöpfung
(wer)
Albonico, Alice
Kalyvitis, Sarantis
Pappa, Evi
Ereignis
Veröffentlichung
(wer)
Università degli Studi di Pavia, Dipartimento di Economia Politica e Metodi Quantitativi (EPMQ)
(wo)
Pavia
(wann)
2012

Handle
Letzte Aktualisierung
12.07.2024, 13:21 MESZ

Objekttyp

  • Arbeitspapier

Beteiligte

  • Albonico, Alice
  • Kalyvitis, Sarantis
  • Pappa, Evi
  • Università degli Studi di Pavia, Dipartimento di Economia Politica e Metodi Quantitativi (EPMQ)

Entstanden

  • 2012

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