Lumpiness, capital adjustment costs and investment dynamics
成果类型：
Article
署名作者：
Fiori, Giuseppe
署名单位：
Universidade de Sao Paulo
刊物名称：
JOURNAL OF MONETARY ECONOMICS
ISSN/ISSBN：
0304-3932
DOI：
10.1016/j.jmoneco.2012.03.005
发表日期：
2012
页码：
381-392
关键词：
摘要：
Aggregate investment in the US economy displays a hump-shaped pattern in response to shocks, and the autocorrelation of aggregate investment growth is positive for the first few quarters, turning negative for the later quarters. This paper shows that this feature of the data is the natural outcome of a two-sector consumption/investment model designed and calibrated to reproduce plant-level evidence on capita: accumulation. (C) 2012 Elsevier B.V. All rights reserved.
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