Two Cheers for the Aggregated (S, s) Model!
AbstractAggregated (S;s) models purport to provide a structural, microfounded and statistically robust explanation of aggregate investment uctuations. In this paper I analyse these claims, present several empirical puzzles arising from the model and discuss hoe the model might be extended to account for these puzzles.
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Bibliographic InfoPaper provided by Edinburgh School of Economics, University of Edinburgh in its series ESE Discussion Papers with number 56.
Date of creation: Apr 2004
Date of revision:
Economic Fluctuations; Investment; Factor Demand; Aggregated (S; s) rules; Model Specification;
Find related papers by JEL classification:
- C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
- E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-04-25 (All new papers)
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