SECTORAL SHOCKS, LEARNING, AND AGGREGATE FLUCTUATIONS

被引：40

作者：

CAPLIN, A ^{[1
]}

LEAHY, J ^{[1
]}

机构：

[1] HARVARD UNIV,CAMBRIDGE,MA 02138

来源：

REVIEW OF ECONOMIC STUDIES | 1993年 / 60卷 / 04期

基金：

美国国家科学基金会;

关键词：

D O I：

10.2307/2298099

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We present a model in which sectoral shocks have aggregate consequences. The model relies on irreversible investment and imperfect information to slow the adjustment of expanding industries. We show that this gradual expansion is sub-optimal.

引用

页码：777 / 794

页数：18

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