Aggregate Implications of Lumpy Investment: New Evidence and a DSGE Model
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下载链接：
https://www.nber.org/papers/w12336
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资源简介：
The sensitivity of U.S. aggregate investment to shocks is procyclical: the initial response increases by approximately 50% 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 explaining
提供机构：
美国国家经济研究局
创建时间：
2006-06-01
