Time to Build and Aggregate Fluctuations Export

@article{citeulike:175044, abstract = {The equilibrium growth model is modified and used to explain the cyclical variances of a set of economic time series, the covariances between real output and the other series, and the autocovariance of output. The model is fitted to quarterly data for the post-war U.S. economy. Crucial features of the model are the assumption that more than one time period is required for the construction of new productive capital, and the non-time-separable utility function that admits greater intertemporal substitution of leisure. The fit is surprisingly good in light of the model's simplicity and the small number of free parameters.}, author = {Kydland, Finn E. and Prescott, Edward C.}, citeulike-article-id = {175044}, citeulike-linkout-0 = {http://dx.doi.org/10.2307/1913386}, citeulike-linkout-1 = {http://www.jstor.org/stable/1913386}, doi = {10.2307/1913386}, issn = {00129682}, journal = {Econometrica}, keywords = {macroeconomics, real\_business\_cycle}, number = {6}, pages = {1345--1370}, posted-at = {2008-07-02 07:57:54}, priority = {3}, publisher = {The Econometric Society}, title = {Time to Build and Aggregate Fluctuations}, url = {http://dx.doi.org/10.2307/1913386}, volume = {50}, year = {1982} }

TY - JOUR ID - citeulike:175044 L3 - citeulike-article-id:175044 N2 - The equilibrium growth model is modified and used to explain the cyclical variances of a set of economic time series, the covariances between real output and the other series, and the autocovariance of output. The model is fitted to quarterly data for the post-war U.S. economy. Crucial features of the model are the assumption that more than one time period is required for the construction of new productive capital, and the non-time-separable utility function that admits greater intertemporal substitution of leisure. The fit is surprisingly good in light of the model's simplicity and the small number of free parameters. IS - 6 JF - Econometrica SN - 00129682 EP - 1370 TI - Time to Build and Aggregate Fluctuations PB - The Econometric Society VL - 50 SP - 1345 KW - macroeconomics KW - real_business_cycle AU - Kydland, Finn AU - Prescott, Edward PY - 1982/// UR - http://dx.doi.org/10.2307/1913386 ER -