haku: @indexterm consumer durables / yhteensä: 213
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| Tekijä: | Baxter, M. |
| Otsikko: | Are consumer durables important for business cycles? |
| Lehti: | Review of Economics and Statistics
1996 : FEB, VOL. 78:1, p. 147-155 |
| Asiasana: | BUSINESS CYCLES STATISTICS CONSUMER DURABLES |
| Kieli: | eng |
| Tiivistelmä: | This paper investigates whether consumer durables are important for the generation and propagation of business cycles. The author constructs a two-sector model that succeeds in generating business cycles that mimic empirical patterns of cross sector volatility and comovement. The author finds that half the relatively higher volatility associated with the durable-goods sector is due to higher volatility of shocks hitting this sector , with the other half due to endogenous responses, notably the investment accelerator. |
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