Finance and Economics Discussion Series: Putty-Clay and Investment: A Business Cycle Analysis by John C. Williams, Simon Gilchrist

Finance and Economics Discussion Series: Putty-Clay and Investment: A Business Cycle Analysis

John C. Williams, Simon Gilchrist

48 pages • missing pub info (editions)

nonfiction politics
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This paper develops a dynamic stochastic general equilibrium model with putty-clay technology that incorporates embodied technology, investment irreversibility, and variable capacity utilization. Low short-run capital-labor substitutability native...

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