Adjustment Cost on Investment and Under-Utilization of Maximum Installed Capacity in South Korean Business Cycle - A Bayesian New Keynensian Model

Adjustment Cost on Investment and Under-Utilization of Maximum Installed Capacity in South Korean Business Cycle - A Bayesian New Keynensian Model

This study examines the effects of adjustment costs on investment and the under-utilization of maximum installed capacity within the South Korea using a New Keynesian business cycle with Bayesian approach. The New Keynesian business cycle model that incorporates both investment frictions as well as...

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Bibliographic Details
Main Authors: Al Mamun Tuhin G M, Ehsanullah
Format: Article
Language:English
Published: Sciendo 2025-03-01
Series:ECONOMICS
Subjects:
bayesian estimation
korean business cycles
adjustment costs
underutilization of capital
new keynesian economics
ricardian estimation
non-ricardian estimation
maximum installed capacity
metropolis-hastings algorithm
e32
e52
e61
e22
c11
Online Access:https://doi.org/10.2478/eoik-2025-0026
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https://doi.org/10.2478/eoik-2025-0026

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