search query: @author Davis, S. J. / total: 3
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| Author: | Davis, S. J. |
| Title: | Allocative disturbances and specific capital in real business cycle theories |
| Journal: | American Economic Review
1987 : MAY, VOL. 77:2, p. 326-332 |
| Index terms: | BUSINESS CYCLES TECHNOLOGY ALLOCATION |
| Language: | eng |
| Abstract: | It is emphasized how consideration of specialization and reallocation technologies can improve the understanding of the driving forces behind economic fluctuations and the mechanims that propagate disturbances over time and across sectors. Some recent evidence on real-world business cycles that indicates the quantitative significance of fluctuations in labour allocation are discussed, and some important insights are conveyed from the analyses of multisector business cycle models with costly reallocation technologies. |
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