English, Article, Journal or magazine article edition: The Role of Investment Wedges in the Carlstrom-Fuerst Economy and Business Cycle Accounting INABA Masaru; NUTAHARA Kengo

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Physical Description
  • preprint
Language
  • English

Edition details

Title
  • The Role of Investment Wedges in the Carlstrom-Fuerst Economy and Business Cycle Accounting
Author
  • INABA Masaru
  • NUTAHARA Kengo
Physical Description
  • preprint
Notes
  • Many researches that apply business cycle accounting (hereafter, BCA) to actual data conclude that models with investment frictions or investment wedges are not promising for modeling business cycle dynamics. In this paper, we apply BCA to artificial data generated by a variant model of Carlstrom and Fuerst (1997, American Economic Review), which is one of representative models with investment frictions. We find that BCA leads us to conclude that models of investment wedges are not promising according to the criteria of BCA, although the true model contains investment frictions.
  • Business cycle accounting; investment wedge; investment friction; wedge decompsition
  • RePEc:pra:mprapa:8337
  • Many researches that apply business cycle accounting (hereafter, BCA) to actual data conclude that models with investment frictions or investment wedges are not promising for modeling business cycle dynamics. In this paper, we apply BCA to artificial data generated by a variant model of Carlstrom and Fuerst (1997, American Economic Review), which is one of the representative models with investment frictions. Based on our findings, BCA leads us to conclude that models with investment wedges are not promising according to the criteria of BCA, even though the true model contains investment frictions.
  • RePEc:eti:dpaper:09027
Language
  • English
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