LEADER 04877oam 22012014 450 001 9910155013403321 005 20200520144314.0 010 $a1-4755-5685-3 010 $a1-4755-5704-3 035 $a(CKB)3710000000973031 035 $a(MiAaPQ)EBC4867570 035 $a(Au-PeEL)EBL4867570 035 $a(CaPaEBR)ebr11391094 035 $a(CaONFJC)MIL974488 035 $a(OCoLC)964525187 035 $a(IMF)WPIEA2016215 035 $a(EXLCZ)993710000000973031 100 $a20020129d2016 uf 0 101 0 $aeng 135 $aurcnu|||||||| 181 $2rdacontent 182 $2rdamedia 183 $2rdacarrier 200 10$aTuning in RBC Growth Spectra /$fSzilard Benk, Tamas Csabafi, Jing Dang, Max Gillman, Michal Kejak 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2016. 215 $a1 online resource (52 pages) $cillustrations (some color) 225 1 $aIMF Working Papers 311 $a1-4755-5277-7 320 $aIncludes bibliographical references. 330 3 $aFor US postwar data, the paper explains central consumption, labor, investment and output correlations and volatilities along with output growth persistence by including a human capital investment sector and a variable physical capital utilization rate. Strong internal "amplication" results from an economy-wide productivity shock across goods and human capital investment sectors that has variances 10,000 fold smaller than in the standard RBC TFP shock. Simulated moments are compared to data moments for the business cycle, the low frequency and the Medium Cycle frequency, as well as the high frequency. A metric is provided to gauge that the results have an average of 46% deviation of simulated moments from data moments, for a broad array of targets across all windows. Within this array, key correlations have only a 15% deviation in the business cycle window, and growth persistence only an 8% deviation in the low frequency, which indicates good "propagation". Countercyclic human capital investment time and procyclic physical capital capacity utilization rates are also found as in data. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2016/215 606 $aBusiness cycles$zUnited States 606 $aHuman capital$zUnited States 606 $aLabor$2imf 606 $aMacroeconomics$2imf 606 $aProduction and Operations Management$2imf 606 $aNeoclassical$2imf 606 $aBusiness Fluctuations$2imf 606 $aCycles$2imf 606 $aTrade: General$2imf 606 $aHuman Capital$2imf 606 $aSkills$2imf 606 $aOccupational Choice$2imf 606 $aLabor Productivity$2imf 606 $aProduction$2imf 606 $aCost$2imf 606 $aCapital and Total Factor Productivity$2imf 606 $aCapacity$2imf 606 $aLabor Economics: General$2imf 606 $aPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)$2imf 606 $aMacroeconomics: Production$2imf 606 $aLabour$2imf 606 $aincome economics$2imf 606 $aEconomic growth$2imf 606 $aHuman capital$2imf 606 $aTotal factor productivity$2imf 606 $aBusiness cycles$2imf 606 $aCapacity utilization$2imf 606 $aIndustrial productivity$2imf 606 $aLabor economics$2imf 606 $aIndustrial capacity$2imf 607 $aUnited States$2imf 615 0$aBusiness cycles 615 0$aHuman capital 615 7$aLabor 615 7$aMacroeconomics 615 7$aProduction and Operations Management 615 7$aNeoclassical 615 7$aBusiness Fluctuations 615 7$aCycles 615 7$aTrade: General 615 7$aHuman Capital 615 7$aSkills 615 7$aOccupational Choice 615 7$aLabor Productivity 615 7$aProduction 615 7$aCost 615 7$aCapital and Total Factor Productivity 615 7$aCapacity 615 7$aLabor Economics: General 615 7$aPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data) 615 7$aMacroeconomics: Production 615 7$aLabour 615 7$aincome economics 615 7$aEconomic growth 615 7$aHuman capital 615 7$aTotal factor productivity 615 7$aBusiness cycles 615 7$aCapacity utilization 615 7$aIndustrial productivity 615 7$aLabor economics 615 7$aIndustrial capacity 676 $a338.5420973 700 $aBenk$b Szilard$01451127 701 $aCsabafi$b Tamas$01451128 701 $aDang$b Jing$01451129 701 $aGillman$b Max$01087917 701 $aKejak$b Michal$01451130 801 0$bDcWaIMF 906 $aBOOK 912 $a9910155013403321 996 $aTuning in RBC Growth Spectra$93651003 997 $aUNINA