A NEOCLASSICAL MODEL OF SEASONAL FLUCTUATIONS
成果类型：
Article
署名作者：
CHATTERJEE, S; RAVIKUMAR, B
署名单位：
University of Iowa; University of Virginia
刊物名称：
JOURNAL OF MONETARY ECONOMICS
ISSN/ISSBN：
0304-3932
DOI：
10.1016/0304-3932(92)90023-U
发表日期：
1992
页码：
59-86
关键词：
摘要：
We develop a neoclassical capital accumulation model with seasonal perturbations to tastes and technology. We calibrate the model and use it to study the impact of seasonal demand and supply perturbations on economic activity. We find that the impact is largely limited to a single quarter. We also use our model to isolate the seasonal movements in U.S. quarterly data and then compute the seasonal variations in tastes and technology that approximately explain these movements. We find comovements in productivity and taste perturbations that are very similar to the seasonal comovements of aggregate variables.
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