This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

The Role of Investment Wedges in the Carlstrom-Fuerst Economy and Business Cycle Accounting

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Inaba, Masaru
Nutahara, Kengo

Additional information is available for the following registered author(s):

Abstract

Many researches that apply business cycle accounting (hereafter, BCA) to actual data conclude that models with investment frictions or investment wedges are not promising for modeling business cycle dynamics. In this paper, we apply BCA to artificial data generated by a variant model of Carlstrom and Fuerst (1997, American Economic Review), which is one of representative models with investment frictions. We find that BCA leads us to conclude that models of investment wedges are not promising according to the criteria of BCA, although the true model contains investment frictions.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://mpra.ub.uni-muenchen.de/8337/
File Format:
File Function: orginal version
Download Restriction: no
File URL: http://mpra.ub.uni-muenchen.de/11582/
File Format:
File Function: revised version
Download Restriction: no

Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 8337.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length:
Date of creation: 19 Apr 2008
Date of revision:
Handle: RePEc:pra:mprapa:8337

Contact details of provider:
Postal: Schackstr. 4, D-80539 Munich, Germany
Phone: +49-(0)89-2180-2219
Fax: +49-(0)89-2180-3900
Web page: http://mpra.ub.uni-muenchen.de
More information through EDIRC

For technical questions regarding this item, or to correct its listing, contact: (Ekkehart Schlicht).

Related research
Keywords: Business cycle accounting; investment wedge; investment friction; wedge decompsition;

Other versions of this item:

Find related papers by JEL classification:
C68 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Computable General Equilibrium Models
E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical

This paper has been announced in the following NEP Reports:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Knowler, Duncan & Barbier, Edward, 2005. "Importing exotic plants and the risk of invasion: are market-based instruments adequate?," Ecological Economics, Elsevier, vol. 52(3), pages 341-354, February. [Downloadable!] (restricted)
  2. Anderson, Kym & James, Sarah, 1998. "On the Need for More Economic Assessment of Quarantine/SPS Policies," CEPR Discussion Papers 1934, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  3. Josh Ederington, 2001. "International Coordination of Trade and Domestic Policies," American Economic Review, American Economic Association, vol. 91(5), pages 1580-1593, December. [Downloadable!] (restricted)
  4. J. D. Mumford, 2002. "Economic issues related to quarantine in international trade," European Review of Agricultural Economics, Oxford University Press for the Foundation for the European Review of Agricultural Economics, vol. 29(3), pages 329-348, July.
  5. V. V. Chari & Patrick J. Kehoe & Ellen R. McGrattan, 2007. "Business Cycle Accounting," Econometrica, Econometric Society, vol. 75(3), pages 781-836, 05. [Downloadable!] (restricted)
    Other versions:
  6. Roberts, Donna, 1998. "Preliminary Assessment of the Effects of the WTO Agreement on Sanitary and Phytosanitary Trade Regulations," Journal of International Economic Law, Oxford University Press, vol. 1(3), pages 377-405, September.
  7. Limao, Nuno, 2005. "Trade policy, cross-border externalities and lobbies: do linked agreements enforce more cooperative outcomes?," Journal of International Economics, Elsevier, vol. 67(1), pages 175-199, September. [Downloadable!] (restricted)
    Other versions:
  8. John Wilson & Tsunehiro Otsuki & Baishali Majumdsar, 2003. "Balancing food safety and risk: do drug residue limits affect international trade in beef?," Journal of International Trade & Economic Development, Taylor and Francis Journals, vol. 12(4), pages 377-402, December. [Downloadable!] (restricted)
    Other versions:
  9. Christopher Costello & Carol McAusland, 2003. "Protectionism, Trade, and Measures of Damage from Exotic Species Introductions," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 85(4), pages 964-975, November. [Downloadable!] (restricted)
  10. Kyle Bagwell & Robert W. Staiger, 1999. "An Economic Theory of GATT," American Economic Review, American Economic Association, vol. 89(1), pages 215-248, March. [Downloadable!] (restricted)
    Other versions:
  11. Chengyan Yue & John Beghin & Helen H. Jensen, 2006. "Tariff Equivalent of Technical Barriers to Trade with Imperfect Substitution and Trade Costs," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 88(4), pages 947-960, November. [Downloadable!] (restricted)
    Other versions:
  12. Copeland, Brian R., 1989. "Tariffs and quotas : Retaliation and negotiation with two instruments of protection," Journal of International Economics, Elsevier, vol. 26(1-2), pages 179-188, February. [Downloadable!] (restricted)
  13. Kyle Bagwell & Robert W. Staiger, 2001. "Domestic Policies, National Sovereignty, And International Economic Institutions," The Quarterly Journal of Economics, MIT Press, vol. 116(2), pages 519-562, May. [Downloadable!] (restricted)
    Other versions:
  14. Otsuki, Tsunehiro & Wilson, John S. & Sewadeh, Mirvat, 2001. "Saving two in a billion: : quantifying the trade effect of European food safety standards on African exports," Food Policy, Elsevier, vol. 26(5), pages 495-514, October. [Downloadable!] (restricted)
  15. Henrik Horn & Giovanni Maggi & Robert W. Staiger, 2006. "Trade Agreements as Endogenously Incomplete Contracts," NBER Working Papers 12745, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  16. Carlstrom, Charles T & Fuerst, Timothy S, 1997. "Agency Costs, Net Worth, and Business Fluctuations: A Computable General Equilibrium Analysis," American Economic Review, American Economic Association, vol. 87(5), pages 893-910, December. [Downloadable!] (restricted)
    Other versions:
  17. Josh Ederington, 2002. "Trade and Domestic Policy Linkage in International Agreements," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 43(4), pages 1347-1368, November. [Downloadable!] (restricted)
  18. McAusland, Carol & Costello, Christopher, 2004. "Avoiding invasives: trade-related policies for controlling unintentional exotic species introductions," Journal of Environmental Economics and Management, Elsevier, vol. 48(2), pages 954-977, September. [Downloadable!] (restricted)
  19. Brian R. Copeland, 1990. "Strategic Interaction among Nations: Negotiable and Non-negotiable Trade Barriers," Canadian Journal of Economics, Canadian Economics Association, vol. 23(1), pages 84-108, February. [Downloadable!] (restricted)
  20. Isaac, Grant E., 2004. "The SPS Agreement and Agri-food Trade Disputes: The Final Frontier," Estey Centre Journal of International Law and Trade Policy, Estey Centre for Law and Economics in International Trade, vol. 5(1). [Downloadable!]
  21. Josh Ederington, 2001. "Environmental Duties and International Harmonization of Standards," Southern Economic Journal, Southern Economic Association, vol. 68(2), pages 418-432, October.
Full references

Statistics
Access and download statistics

Did you know? About 2700 working paper series are listed on RePEc.

This page was last updated on 2009-11-21.


This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.