Factor demand models with nonlinear short-run fluctuations
作者： Gerard A. Pfann
DOI: 10.1016/0165-1889(94)00853-5
关键词: Economics 、 Manufacturing sector 、 Time series 、 Business cycle 、 Econometrics 、 Short run 、 Nonlinear system 、 Capital (economics) 、 Macroeconomics
摘要: Abstract This paper considers asymmetric costs of adjustment that propagate nonlinear shortrun fluctuations in stochastic factor demand systems. The model endogenously generates cyclical for capital and labour between peaks troughs the business cycle. empirical analysis is based on quarterly time series data Dutch manufacturing sector period 1971.I–1984.IV annual U.K. 1955–1986. I find important differences speed inputs expansionary contractionary phases
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