Aggregate Implications of Lumpy Investment: New Evidence and a DSGE Model

The sensitivity of US aggregate investment to shocks is procyclical. The response upon impact increases by approximately 50 percent from the trough to the peak of the business cycle. This feature of the data follows naturally from a DSGE model with lumpy microeconomic capital adjustment. Beyond expl...

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Bibliographic details
Volume: 5
Main Author: Bachmann, Ruediger
Caballero, Ricardo J
Engel, Eduardo M. R. A
Format: Journal Article
Language: English
Place of publication: NASHVILLE American Economic Association 01.10.2013
AMER ECONOMIC ASSOC
published in: American economic journal. Macroeconomics Vol. 5; no. 4; pp. 29 - 67
Data of publication: 20131001
ISSN: 1945-7707
1945-7715
EISSN: 1945-7715
Discipline: Economics
Subjects:
Online Access: Fulltext
Database: Web of Knowledge
Social Sciences Citation Index
Web of Science
Web of Science - Social Sciences Citation Index - 2013
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