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dc.creatorGómez, Wilman 
dc.date.accessioned2015-10-06T12:37:44Z
dc.date.available2015-10-06T12:37:44Z
dc.date.created2014
dc.date.issued2014
dc.identifier.urihttp://repository.urosario.edu.co/handle/10336/10969
dc.descriptionIn this paper, investment cost asymmetry is introduced in order to test wheter this kind of asymmetry can account for asymmetries in business cycles. By using a smooth transition function, asymmetric investment cost is modeled and introduced in a canonical RBC model. Simulations of the model with Perturbations Method (PM) are very close to simulations through Parameterized Expectations Algorithm (PEA), which allows the use of the former for the sake of time reduction and computational costs. Both symmetric and asymmetric models were simulated and compared. Deterministic and stochastic impulse-response excersices revealed that it is possible to adequately reproduce asymmetric business cycles by modeling asymmetric investment costs. Simulations also showed that higher order moments are insu_cient to detect asymmetries. Instead, methods such as Generalized Impulse Response Analysis (GIRA) and Nonlinear Econometrics prove to be more e_cient diagnostic tools.
dc.format.extent36 páginas
dc.format.mediumRecurso electrónico
dc.format.mimetypeapplication/pdf
dc.language.isoeng
dc.relation.ispartofSerie documentos de trabajo. No 153 (Marzo 2014)
dc.relation.urihttps://ideas.repec.org/p/col/000092/011163.html
dc.sourceinstname:Universidad del Rosario
dc.sourcereponame:Repositorio Institucional EdocUR
dc.sourceinstname:Universidad del Rosario
dc.subject.ddcProducción 
dc.subject.lembEconomía
dc.subject.lembInversiones
dc.subject.lembCiclos económicos
dc.titleBusiness cycle asymmentries: An investment cost approach
dc.typeworkingPaper
dc.publisherUniversidad del Rosario
dc.publisher.departmentFacultad de Economía
dc.identifier.editorialUniversidad del Rosario
dc.rights.accesRightsinfo:eu-repo/semantics/openAccess
dc.type.spaDocumento de trabajo
dc.rights.accesoAbierto (Texto completo)
dc.type.hasVersioninfo:eu-repo/semantics/acceptedVersion
dc.format.tipoDocumento
dc.rights.ccAtribución-NoComercial-SinDerivadas 2.5 Colombia


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