منابع مشابه
Are Technology Shocks Nonlinear?
This paper examines the behavior of postwar real U.S. GNP, the inputs to an aggregate production function, and the associated Solow residuals for the presence of nonlinearities in their generating mechanisms. To test for nonlinearity, we implement three di®erent statistical tests: the McLeod-Li test based on the correlogram of the squared data, the BDS test based on the correlation integral, an...
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__________________________________________________________________ International trade is frequently thought of as a production technology in which the inputs are exports and the outputs are imports. Exports are transformed into imports at the rate of the price of exports relative to the price of imports: the reciprocal of the terms of trade. Cast this way, a change in the terms of trade acts a...
متن کاملHow Important Are Sectoral Shocks?
I quantify the contribution of sectoral shocks to business cycle fluctuations in aggregate output. I develop and estimate a multi-industry general equilibrium model in which each industry employs the material and capital goods produced by other sectors. Using data on U.S. industries’ input prices and input choices, I find that the goods produced by different industries are complements to one an...
متن کاملOn delta-shocks and singular shocks
It is well known that there are “nonclassical” situations where, in contrast to Lax’s and Glimm’s results,systems of conservation laws may admit singular solutions (δ-shocks and singular shocks) such that their components contain delta functions [ASh05], [B94], [DSh03]– [LW02], [S02]– [Sh04], [TZZ94]. The exact structure of such type solutions is given below in (2), (7) and Definition 1. The th...
متن کاملAre Children Really Inferior Goods? Evidence from Displacement-Driven Income Shocks
This paper explores the causal link between income and fertility by analyzing women’s fertility response to the large and permanent income shock generated by a husband’s job displacement. I find that the shock reduces total fertility, suggesting that the causal effect of income on fertility is positive. A model that incorporates the time cost of children and assortative matching of spouses can ...
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ژورنال
عنوان ژورنال: Classical and Quantum Gravity
سال: 2005
ISSN: 0264-9381,1361-6382
DOI: 10.1088/0264-9381/22/19/017