Asset returns and business cycles in models with investment adjustment costs

被引：6

作者：

Beaubrun-Diant, KE ^{[1
]}

Tripier, F ^{[1
]}

机构：

[1] Univ Paris 10, Dept Econ, CNRS, MODEM, F-92001 Nanterre, France

来源：

ECONOMICS LETTERS | 2005年 / 86卷 / 01期

关键词：

asset returns; business cycles; adjustment costs;

D O I：

10.1016/j.econlet.2004.07.007

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We show that adjustment cost models with labor supply can explain both asset returns and business cycle facts when adjustment costs penalize the changes of investment. This conclusion stands in contrast to results obtained in the literature with adjustment costs that penalize the changes of capital. (C) 2004 Elsevier B.V. All rights reserved.

引用

页码：141 / 146

页数：6

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