Interest-rate and borrowing defense against speculative attack a comment
In: Carnegie Rochester Conference series on public policy: a bi-annual conference proceedings, Band 53, Heft 1, S. 349-359
ISSN: 0167-2231
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In: Carnegie Rochester Conference series on public policy: a bi-annual conference proceedings, Band 53, Heft 1, S. 349-359
ISSN: 0167-2231
In: Carnegie Rochester Conference series on public policy: a bi-annual conference proceedings, Band 36, S. 5-46
ISSN: 0167-2231
In: Journal of political economy, Band 99, Heft 3, S. 500-521
ISSN: 1537-534X
In: Journal of political economy, Band 99, Heft 3, S. 500
ISSN: 0022-3808
In: Journal of political economy, Band 125, Heft 1, S. 265-291
ISSN: 1537-534X
In: American economic review, Band 99, Heft 4, S. 1097-1118
ISSN: 1944-7981
Aggregate and sectoral comovement are central features of business cycles, so the ability to generate comovement is a natural litmus test for macroeconomic models. But it is a test that most models fail. We propose a unified model that generates aggregate and sectoral comovement in response to contemporaneous and news shocks about fundamentals. The fundamentals that we consider are aggregate and sectoral total factor productivity shocks as well as investment-specific technical change. The model has three key elements: variable capital utilization, adjustment costs to investment, and preferences that allow us to parameterize the strength of short-run wealth effects on the labor supply. (JEL E13, E20, E32)
In: Journal of international economics, Band 51, Heft 1, S. 21-47
ISSN: 0022-1996
In: Journal of Monetary Economics, Band 43, Heft 2, S. 263-282
In: NBER macroeconomics annual, Band 10, S. 125
ISSN: 1537-2642
In: Journal of Monetary Economics, Band 32, Heft 3, S. 417-458
In: NBER Working Paper No. w18473
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In: NBER Working Paper No. w13444
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In: NBER Working Paper No. w12570
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In: NBER Working Paper No. w12793
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In: NBER Working Paper No. w12537
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