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Utilización del capital y ciclo económico español

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  • Ruiz-Tamarit, Ramón
  • Puch, Luis A.
  • Licandro, Omar

Abstract

Desde el enfoque de los ciclos reales, analizamos el papel que juega la subutilización de los factores productivos en la propagacion de las fluctuaciones agregadas de la economía española. Para ello, incorporamos en un modelo de equilibrio general con crecimiento estocástico una tecnología de depreciación que depende positivamente de la utilización del capital. Ademas, suponemos que la depreciación de las maquinas puede ser reducida mediante una actividad de mantenimiento. Consideramos que el mantenimiento de las máquinas es contráciclico puesto que es más barato para la empresa reparar las máquinas cuando estan paradas que cuando se utilizan a plena capacidad. Los principales resultados son: i) la desviacion estándar del shock tecnológico es sensiblemente menor a la desviación estandar del residuo de Solow, gracias a la mayor flexibilidad productiva que permite una utilización variable del capital; ii) el mecanismo amplificador asociado a la utilización del capital posibilita que la desviación estandar de la producción sea similar a aquella de 1os datos, aun cuando el shock tecnológico es significativamente menos volátil; iii) la flexibilidad productiva y el mecanismo amplificador dan lugar a persistencia en el crecimiento del producto.

Suggested Citation

  • Ruiz-Tamarit, Ramón & Puch, Luis A. & Licandro, Omar, 1995. "Utilización del capital y ciclo económico español," DE - Documentos de Trabajo. Economía. DE 3372, Universidad Carlos III de Madrid. Departamento de Economía.
  • Handle: RePEc:cte:derepe:3372
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    References listed on IDEAS

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    1. Roman Arjona, "undated". "Gradually Capitalizing the Spanish Retirement Pension System," Studies on the Spanish Economy 81, FEDEA.
    2. Roman Arjona, "undated". "Optimal Social Security Taxation in Spain," Studies on the Spanish Economy 80, FEDEA.

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    Keywords

    Ciclos Reales;

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