Capacity constraints, asymmetries, and the business cycle

130 citations recorded by the source corpus.

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

The Role of Collateralized House-hold Debt in Macroeconomic Stabilization (2005, unknown): “lim t→∞ E [ e−ρtΨt ] = lim t→∞ E [ e−ρtΨtΞt ] = 0, (9)”
The Brevity and Violence of Contractions and Expansions (2008, unknown): “Gilchrist and Williams (2000) and Hansen and Prescott (2005) argue that during booms …rms hit capacity constraints so expanding production requires expending resources to set up more plants.”
Learning asymmetries in real business cycles (2006, background): “0 2 4 −1 −0.5 0 0.5 1 Level Asymmetry 0 2 4 −1 −0.5 0 0.5 1 Delay 0 2 4 −1 −0.5 0 0.5 1 Growth Asymmetry Previous papers have used a variety of mechanisms to produce business cycle asymmetries.”
Redistributive shocks and productivity shocks (2010, background): “Hansen and Prescott (2005) introduce variable capacity utilization and idle resources in a real business cycle model to study asymmetries generated by occasionally binding capacity constraints.”