Go to content
UR Home

Time Varying Uncertainty and the Credit Channel

URN to cite this document:
urn:nbn:de:bvb:355-epub-108166
Dorofeenko, Victor ; Lee, Gabriel ; Salyer, Kevin
[img]
Preview
PDF
(299kB)
Date of publication of this fulltext: 17 Mar 2010 14:31


Abstract

We extend the Carlstrom and Fuerst (American Economic Review, 1997, 87, pp. 893–910) agency cost model of business cycles by including time-varying uncertainty in the technology shocks that affect capital production. We first demonstrate that standard linearization methods can be used to solve the model yet second moments enter the economy’s equilibrium policy functions.We then demonstrate that ...

plus


Owner only: item control page
  1. Homepage UR

University Library

Publication Server

Contact:

Publishing: oa@ur.de

Dissertations: dissertationen@ur.de

Research data: daten@ur.de

Contact persons