NEW PERSPECTIVES ON DEPRECIATION SHOCKS AS A SOURCE OF BUSINESS CYCLE FLUCTUATIONS

In this paper we study the transmission of capital depreciation shocks. The existing literature in the real business cycle tradition has concluded that these shocks are irrelevant to business cycle fluctuations. We show that they are potentially important drivers of aggregate fluctuations in a new K...

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Veröffentlicht in:	Macroeconomic dynamics 2014-09, Vol.18 (6), p.1209-1233
Hauptverfasser:	Furlanetto, Francesco, Seneca, Martin
Format:	Artikel
Sprache:	eng
Schlagworte:	Business cycles Capital depreciation Central banks Consumption Costs Economic models Economic theory Elasticity of demand Households Investments Macroeconomics Monopolistic competition Studies Variables Wage rates
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