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- URN zum Zitieren dieses Dokuments:
- urn:nbn:de:bvb:355-epub-56944
- DOI zum Zitieren dieses Dokuments:
- 10.5283/epub.5694
Alternative Links zum Volltext:DOI
Zusammenfassung
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 ...
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