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
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Englisch
- Erschienen in
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Series: Quaderni di Dipartimento ; No. 164
Investment; Capital; Intangible Capital; Capacity
Business Fluctuations; Cycles
productivity-hours puzzle
investment adjustment costs
wealth effect
Kalyvitis, Sarantis
Pappa, Evi
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:21 MESZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Albonico, Alice
- Kalyvitis, Sarantis
- Pappa, Evi
- Università degli Studi di Pavia, Dipartimento di Economia Politica e Metodi Quantitativi (EPMQ)
Entstanden
- 2012