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Category
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IIR Working Paper
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Author
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Nirei, Makoto
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Article Title
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Endogenous Fluctuations of Investment and Output in a Model of Discrete Capital Adjustments
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Institution
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Hitotsubashi University IIR
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Number
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WP#09-01
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Release Date
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2009/04
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Abstract
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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.
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Notes
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URL
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Label
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経済学
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Register date
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2009/12/31
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