Comovement in Business Cycle Models: the Role of Nonseparable Preferences and Labor Market Participation

Bruce Preston and Stefano Eusepi

No 1159, 2009 Meeting Papers from Society for Economic Dynamics

Abstract: We calibrate and simulate the model's response to `demand' shocks such as shifts in the marginal efficiency of investment, government spending shocks and news shocks. We show that investment-specific shocks can generate business cycle fluctuations that are broadly consistent with aggregate data.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed009:1159

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