The role of investment-specific technological change in the business cycle

被引：244

作者：

Greenwood, J

Hercowitz, Z

Krusell, P ^{[1
]}

机构：

[1] Univ Rochester, Dept Econ, Rochester, NY 14627 USA

[2] Tel Aviv Univ, IL-69978 Tel Aviv, Israel

[3] CEPR, London, England

[4] Inst Int Econ Studies, Stockholm, Sweden

来源：

EUROPEAN ECONOMIC REVIEW | 2000年 / 44卷 / 01期

关键词：

equipment investment; technological change; business cycles;

D O I：

10.1016/S0014-2921(98)00058-0

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This is a quantitative investigation of the importance of technological change specific to new investment goods for postwar US aggregate fluctuations. A growth model that incorporates this form of technological change is calibrated to US data and simulated, using the relative price of new equipment to identify the process driving investment-specific technology shocks. The analysis suggests that this form of technological change is the source of about 30% of output fluctuations. (C) 2000 Elsevier Science B.V. All rights reserved.

引用

页码：91 / 115

页数：25

共 23 条

[1]

[Anonymous], CARNEGIE ROCHESTER C, DOI DOI 10.1016/0167-2231(86)90035-7

[2] HOMEWORK IN MACROECONOMICS - HOUSEHOLD PRODUCTION AND AGGREGATE FLUCTUATIONS [J].