Preference shocks in an RBC model with intangible capital

Kashif Zaheer Malik, Syed Ali, Ali Imtiaz and Ammar Aftab

Cogent Economics & Finance, 2019, vol. 7, issue 1, 1586621

Abstract: In this paper, we develop and simulate an RBC model that includes intangible capital as a third factor of production. We study the effects of intra-temporal preference shocks on economic aggregates, employing the undetermined coefficient method of to solve the model. Impulse response functions to preference shocks reveal that demand-side shocks are important in explaining the variations in macroeconomic aggregates.

Date: 2019
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DOI: 10.1080/23322039.2019.1586621

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