2002, English, Article, Report edition: Nonconvex factor adjustments in equilibrium business cycle models [electronic resource] : do nonlinearities matter? / Aubhik Khan and Julia Thomas. Khan, Aubhik.

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Bookmark: http://trove.nla.gov.au/version/9967880
Published
  • [Minneapolis, Minn.] : Federal Reserve Bank of Minneapolis, [2002]
Language
  • English

Edition details

Title
  • Nonconvex factor adjustments in equilibrium business cycle models : do nonlinearities matter? /​ Aubhik Khan and Julia Thomas.
Author
  • Khan, Aubhik.
Other Authors
  • Thomas, Julia.
Published
  • [Minneapolis, Minn.] : Federal Reserve Bank of Minneapolis, [2002]
Medium
  • [electronic resource]
Series
Summary
  • "Recent empirical analysis has found nonlinearities to be important in understanding aggregated investment. Using an equilibrium business cycle model, we search for aggregate nonlinearities arising from the introduction of nonconvex capital adjustment costs.We find that, while such costs lead to nontrivial nonlinearities in aggregate investment demand, equilibrium investment is effectively unchanged.Our finding, based on a model in which aggregate fluctuations arise through exogenous changes in total factor productivity, is robust to the introduction of shocks to the relative price of investment goods"--Federal Reserve Bank of Minneapolis web site.
Notes
  • Title from PDF file as viewed on 1/​15/​2005.
  • Includes bibliographical references.
  • Also available in print.
Technical Details
  • System requirements: Adobe Acrobat Reader
  • Mode of access: World Wide Web
Language
  • English
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