autocorrelated growth
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2012 ◽  
Vol 16 (5) ◽  
pp. 791-801 ◽  
Author(s):  
Mao-Wei Hung ◽  
Shue-Jen Wu

When the production function includes dynamic complementarities and a Cobb--Douglas form, dynamic complementarities are an endogenous propagation mechanism of shocks. The proposed model explains several stylized facts of aggregate variables of interest, including (i) hump-shaped impulse response functions, (ii) positively autocorrelated growth rates of aggregate variables, and (iii) correlation coefficients of forecastable movements in aggregate variables.


2006 ◽  
Vol 237 (1-3) ◽  
pp. 179-190 ◽  
Author(s):  
Roel J.W. Brienen ◽  
Pieter A. Zuidema ◽  
Heinjo J. During

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