Index Catalog // Research Database

Alpha Creator Tesim:: Kydland, Finn E. and Prescott, Edward C.
Series:: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)
Number:: 267
Abstract Tesim:: The neoclassical growth model studied in Kydland and Prescott [1982] is modified to permit the capital utilization rate to vary. The effect of this modification is to increase the amplitude of the aggregate fluctuations predicted by theory as the equilibrium response to technological shocks. If following Solow [1957], the changes in output not accounted for by changes in the labor and tangible capital inputs are interpreted as being the technology shocks, the statistical properties of the fluctuations in the post-war United States economy are close in magintude and nature to those predicted by theory.
Palabra clave:: Production, Business cycle , Work week, and Labor
Tema:: D50 - General equilibrium and disequilibrium - General and E32 - Prices, business fluctuations, and cycles - Business fluctuations ; Cycles

Alpha Creator Tesim:: Kydland, Finn E. and Prescott, Edward C.
Series:: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)
Number:: 267
Abstract Tesim:: The neoclassical growth model studied in Kydland and Prescott [1982] is modified to permit the capital utilization rate to vary. The effect of this modification is to increase the amplitude of the aggregate fluctuations predicted by theory as the equilibrium response to technological shocks. If following Solow [1957], the changes in output not accounted for by changes in the labor and tangible capital inputs are interpreted as being the technology shocks, the statistical properties of the fluctuations in the post-war United States economy are close in magintude and nature to those predicted by theory.
Palabra clave:: Production, Work week, Labor, and Business cycle
Tema:: D50 - General equilibrium and disequilibrium - General and E32 - Prices, business fluctuations, and cycles - Business fluctuations ; Cycles

Alpha Creator Tesim:: Cooley, Thomas F., Hansen, Gary D. (Gary Duane), and Prescott, Edward C.
Series:: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)
Number:: 535
Palabra clave:: Equilibrium and Business cycle
Tema:: E13 - General aggregative models - Neoclassical and E32 - Prices, business fluctuations, and cycles - Business fluctuations ; Cycles

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