Time to implement and aggregate fluctuations

Article Abstract:

The canonical RBC model is changed to incorporate an implementation lag in the technology in the aim of showing that consumption is a dominant determinant of output. Simulated method of moments is used to estimate parameters of stochastic processes. The fit of the canonical RBC model is enhanced by demonstrating that consumption is a primary indicator of output. Inclusion of implementation lags should be done in a more realistic model with non-Walrasian features and demand shocks.

Econometrics & Model Building, Econometrics, Business cycles, Business models

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Impatience and equilibrium indeterminacy

Article Abstract:

The purchasing capability of an individual is determined by the consumption rate and average income.

Hong Kong, Analysis, Economic aspects, Purchasing power, Permanent income

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Optimal growth with decreasing marginal impatience

Article Abstract:

The author assumes that household consumption is related negatively to current consumption.?

India, Economic conditions

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