Labor adjustment costs and complex eigenvalues

被引：0

作者：

Xavier Fairise

Patrick Fève

机构：

[1] University of Evry (EPEE),Banque de France (Research Division)

[2] University of Toulouse (CNRS—Gremaq and IDEI),undefined

来源：

Economic Theory | 2006年 / 29卷

关键词：

Labor adjustment costs; Business cycle model; Complex eigenvalues; C12; C52;

D O I：

暂无

中图分类号：

学科分类号：

摘要：

Aggregate variables display both persistence and damped oscillations in response to temporary external shocks. The standard real business cycles (RBC) model cannot explain these patterns, because its stable eigenvalues are positive and real. We demonstrate that this model with labor adjustment costs can yield complex eigenvalues. However, numerical experiments suggest that the model cannot display distinguishable damped oscillations of aggregate variables.

引用

页码：95 / 110

页数：15

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