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Creator: Kydland, Finn E. and Prescott, Edward C. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) Number: 267 Abstract: 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. Mot-clé: Production, Business cycle , Work week, and Labor Assujettir: D50 - General equilibrium and disequilibrium - General and E32 - Prices, business fluctuations, and cycles - Business fluctuations ; Cycles -
Creator: Kydland, Finn E. and Prescott, Edward C. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) Number: 267 Abstract: 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. Mot-clé: Production, Work week, Labor, and Business cycle Assujettir: D50 - General equilibrium and disequilibrium - General and E32 - Prices, business fluctuations, and cycles - Business fluctuations ; Cycles -
Creator: Bental, Benjamin. and Peled, Dan. Series: Economic growth and development Mot-clé: Investments, Technology, Production, Capital, and Labor market Assujettir: D24 - Production and organizations - Production ; Cost ; Capital and total factor productivity ; Capacity and J24 - Demand and supply of labor - Human capital ; Skills ; Occupational choice ; Labor productivity -
Creator: Prescott, Edward C. and Ríos-Rull, José-Víctor. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) Number: 329 Abstract: Arrow-Debreu competitive equilibrium analysis is extended to environments with information sets differing in space as well as in time and with people moving between locations. Equilibrium is shown to exist and to be optimal and the equilibrium price system is characterized. Such environments include many of those studied in the equilibrium search literature. La description: Replaced by WP 449.
Mot-clé: Production, Search environment, Classical approach, Growth , and Competitive general equilibrium Assujettir: D83 - Information, knowledge, and uncertainty - Search ; Learning ; Information and knowledge ; Communication ; Belief and O21 - Development planning and policy - Planning models ; Planning policy -
Creator: Prescott, Edward C. and Ríos-Rull, José-Víctor. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) Number: 329 Abstract: Arrow-Debreu competitive equilibrium analysis is extended to environments with information sets differing in space as well as in time and with people moving between locations. Equilibrium is shown to exist and to be optimal and the equilibrium price system is characterized. Such environments include many of those studied in the equilibrium search literature. La description: Replaced by WP 449.
Mot-clé: Production, Search environment, Classical approach, Growth, and Competitive general equilibrium Assujettir: D83 - Information, knowledge, and uncertainty - Search ; Learning ; Information and knowledge ; Communication ; Belief and O21 - Development planning and policy - Planning models ; Planning policy -
Creator: Prescott, Edward C. and Ríos-Rull, José-Víctor. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) Number: 329 Abstract: Arrow-Debreu competitive equilibrium analysis is extended to environments with information sets differing in space as well as in time and with people moving between locations. Equilibrium is shown to exist and to be optimal and the equilibrium price system is characterized. Such environments include many of those studied in the equilibrium search literature. La description: Replaced by WP 449.
Mot-clé: Production, Search environment, Classical approach, Growth, and Competitive general equilibrium Assujettir: D83 - Information, knowledge, and uncertainty - Search ; Learning ; Information and knowledge ; Communication ; Belief and O21 - Development planning and policy - Planning models ; Planning policy