Can capacity constraints explain asymmetries

Please use this identifier to cite or link to this item: http://dspace.mediu.edu.my:8181/xmlui/handle/10419/19713

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DC Field	Value	Language
dc.creator	Knüppel, Malte	-
dc.date	2008	-
dc.date.accessioned	2013-10-16T07:06:29Z	-
dc.date.available	2013-10-16T07:06:29Z	-
dc.date.issued	2013-10-16	-
dc.identifier	http://hdl.handle.net/10419/19713	-
dc.identifier	ppn:558636241	-
dc.identifier	RePEc:zbw:bubdp1:7036	-
dc.identifier.uri	http://koha.mediu.edu.my:8181/xmlui/handle/10419/19713	-
dc.description	In this paper, we investigate the ability of a modified RBC model to reproduce asymmetries observed for macroeconomic variables over the business cycle. In order to replicate the empirical skewness of major U.S. macroeconomic variables, we introduce a capacity constraint into an otherwise prototypical RBC model. This constraint emerges due to the assumption of kinked marginal costs of utilization, where the kink is located at a utilization rate of 100 percent. We find that a model with a suitably calibrated cost function reproduces the empirical coefficients of skewness remarkably well.	-
dc.language	eng	-
dc.relation	Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2008,01	-
dc.rights	http://www.econstor.eu/dspace/Nutzungsbedingungen	-
dc.subject	E32	-
dc.subject	ddc:330	-
dc.subject	Capacity utilization	-
dc.subject	capacity constraints	-
dc.subject	asymmetry	-
dc.subject	RBC model	-
dc.subject	Real Business Cycle	-
dc.subject	Wirtschaftspotenzial	-
dc.subject	Bottleneck	-
dc.subject	Theorie	-
dc.subject	USA	-
dc.title	Can capacity constraints explain asymmetries	-
dc.type	doc-type:workingPaper	-
Appears in Collections:	EconStor

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