Interpreting shocks to the relative price of investment with a two-sector model
DC Field | Value | Language |
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dc.contributor.author | Guerrieri, Luca | - |
dc.contributor.author | Henderson, Dale | - |
dc.contributor.author | Kim, Jinill | - |
dc.date.accessioned | 2021-08-31T14:48:07Z | - |
dc.date.available | 2021-08-31T14:48:07Z | - |
dc.date.created | 2021-06-19 | - |
dc.date.issued | 2020-01 | - |
dc.identifier.issn | 0883-7252 | - |
dc.identifier.uri | https://scholar.korea.ac.kr/handle/2021.sw.korea/58390 | - |
dc.description.abstract | Consumption and investment comove over the business cycle in response to shocks that permanently move the price of investment. The interpretation of these shocks has relied on standard one-sector models or on models with two or more sectors that can be aggregated. We show that the same interpretation can also be motivated with a model that captures key features of the US Input-Output Tables and cannot be aggregated into a standard one-sector model. Our alternative model yields a closer match to the empirical evidence of positive comovement for consumption and investment subject shocks that permanently move the price of investment. | - |
dc.language | English | - |
dc.language.iso | en | - |
dc.publisher | WILEY | - |
dc.subject | BUSINESS-CYCLE | - |
dc.subject | TECHNOLOGY | - |
dc.subject | RESTRICTIONS | - |
dc.title | Interpreting shocks to the relative price of investment with a two-sector model | - |
dc.type | Article | - |
dc.contributor.affiliatedAuthor | Kim, Jinill | - |
dc.identifier.doi | 10.1002/jae.2728 | - |
dc.identifier.scopusid | 2-s2.0-85070897967 | - |
dc.identifier.wosid | 000483094000001 | - |
dc.identifier.bibliographicCitation | JOURNAL OF APPLIED ECONOMETRICS, v.35, no.1, pp.82 - 98 | - |
dc.relation.isPartOf | JOURNAL OF APPLIED ECONOMETRICS | - |
dc.citation.title | JOURNAL OF APPLIED ECONOMETRICS | - |
dc.citation.volume | 35 | - |
dc.citation.number | 1 | - |
dc.citation.startPage | 82 | - |
dc.citation.endPage | 98 | - |
dc.type.rims | ART | - |
dc.type.docType | Article | - |
dc.description.journalClass | 1 | - |
dc.description.journalRegisteredClass | ssci | - |
dc.description.journalRegisteredClass | scopus | - |
dc.relation.journalResearchArea | Business & Economics | - |
dc.relation.journalResearchArea | Mathematical Methods In Social Sciences | - |
dc.relation.journalWebOfScienceCategory | Economics | - |
dc.relation.journalWebOfScienceCategory | Social Sciences, Mathematical Methods | - |
dc.subject.keywordPlus | BUSINESS-CYCLE | - |
dc.subject.keywordPlus | TECHNOLOGY | - |
dc.subject.keywordPlus | RESTRICTIONS | - |
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