Detail Information

BACK

Category IIR Working Paper
Author Nirei, Makoto
Article Title Endogenous Fluctuations of Investment and Output in a Model of Discrete Capital Adjustments
Institution Hitotsubashi University IIR
Number WP#09-01
Release Date 2009/04
Abstract This paper presents a model of endogenous fluctuations of investment and output at the business cycles frequencies. Aggregate investments fluctuate endogenously due to the strategic complementarity of micro-level lumpy investments. The investment fluctuations are transmitted to the output via variable utilization of capital. Simulations show that there is a range of parameter values under which the model economy exhibits a large magnitude of fluctuations and comovements in investment and output.
Notes
URL
Label 経済学
Register date 2009/12/31

PDF DOWNLOAD

BACK