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dc.contributor.author Burnside, C
dc.contributor.author Eichenbaum, M
dc.date.accessioned 2010-03-09T15:41:24Z
dc.date.issued 1996-12-01
dc.identifier.citation American Economic Review, 1996, 86 (5), pp. 1154 - 1174
dc.identifier.issn 0002-8282
dc.identifier.uri http://hdl.handle.net/10161/2015
dc.description.abstract This paper analyzes the role of variable capital-utilization rates in propagating shocks over the business cycle. The model on which our analysis is based treats variable capital-utilization rates as a form of factor-hoarding. We argue that variable capital-utilization rates are a quantitatively important source of propagation to business-cycle shocks. With this additional source of propagation, the volatility of exogenous technology shocks needed to explain the observed variability in aggregate U.S. output is significantly reduced relative to standard real-business-cycle models.
dc.format.extent 1154 - 1174
dc.format.mimetype application/pdf
dc.language.iso en_US
dc.relation.ispartof American Economic Review
dc.title Factor-Hoarding and the Propagation of Business-Cycle Shocks
dc.type Journal Article
dc.department Economics
pubs.issue 5
pubs.organisational-group /Duke
pubs.organisational-group /Duke/Trinity College of Arts & Sciences
pubs.organisational-group /Duke/Trinity College of Arts & Sciences/Economics
pubs.publication-status Published
pubs.volume 86

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