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
Investment; Capital; Intangible Capital; Capacity
Business Fluctuations; Cycles
Thema
technology shocks
productivity-hours puzzle
investment adjustment costs
wealth effect
productivity-hours puzzle
investment adjustment costs
wealth effect
Ereignis
Geistige Schöpfung
(wer)
Albonico, Alice
Kalyvitis, Sarantis
Pappa, Evi
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
-
20.09.2024, 08:21 MESZ
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
- 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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