Endogenous business cycles and growth

Literaturverz. S. 24 - 26

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Bibliographische Detailangaben
1. Verfasser:	Wälde, Klaus (VerfasserIn)
Format:	UnknownFormat
Sprache:	eng
Veröffentlicht:	Munich Univ., Center for Economic Studies u.a. 2003
Schriftenreihe:	CESifo working paper series Fiscal policy, macroeconomics and growth 920
Schlagworte:	Real-Business-Cycle-Theorie > Forschung > Investition > Technischer Fortschritt > Stochastisches Wachstumsmodell > Mehrsektoren-Modell > Theorie > Arbeitspapier > Graue Literatur
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Beschreibung
Zusammenfassung:	Literaturverz. S. 24 - 26 Current explanations why a growing economy necessarily goes through booms and recessions predict countercyclical R&D investment. As this is very controversial from an empirical perspective, a stochastic Poisson model of endogenous business cycles and growth is presented where the determinants of the cyclical behaviour of R&D investment are analytically studied. Providing an explicit expression for the expected length of a cycle shows that high frequency fluctuations can indeed be understood by this approach. It is also shown how small technological improvements translate into large aggregate fluctuations.
Beschreibung:	Internetausg.: http://www.cesifo.de/~DocCIDL/cesifo_wp920.pdf
Beschreibung:	26 S