Modeling Aggregate Investment: A Fundamentalist ApproachDivisions of Research & Statistics and Monetary Affairs, Federal Reserve Board, 2003 - Capital investments - 41 pages |
Common terms and phrases
90 percent confidence adjusting the capital adjustment costs aggregate investment annual rate Athanasios Orphanides Brian Sack capacity utilization capital intensity capital on investment capital stock capital-intensity of production capital-labor ratio capital-output ratio capital-stock adjustment speed Christiano confidence interval consumer spending convex cost cost of capital cost shocks costly adjustment costs of adjusting Economics Discussion Series Effect of Output Effect of UserCost Eichenbaum empirical equation estimates in column Federal Reserve Board FIML estimation firm firm-level studies firm's first-order conditions implies Inflation intensity of production investment model investment to output July log-linear log-linear model macroeconomic model Market measure model with costly moment-matching approach Monetary Policy Oliner output and user output and user-cost output shock percent confidence interval persistent putty-clay qcoef rate of capital reduced-form impulse responses reduced-form model response of investment Shock on Investment standard model sticky prices structural model user cost user-cost shocks variable