Is lumpy investment relevant for the business cycles in open economies?

2011 ◽  
Author(s):  
Jing Zhou
Keyword(s):  
Business Cycles ◽  
Open Economies ◽  
Lumpy Investment

scholarly journals News-Driven Business Cycles in Small Open Economies

2014 ◽  
Author(s):  
Gunes Kamber ◽  
Konstantinos Theodoridis ◽  
Christoph Thoenissen
Keyword(s):  
Business Cycles ◽  
Open Economies ◽  
Small Open Economies

Business cycles in open economies: Stylized facts for Austria and Germany

1992 ◽  
Vol 128 (1) ◽  
pp. 67-87 ◽  
Author(s):  
Peter Brandner ◽  
Klaus Neusser
Keyword(s):  
Business Cycles ◽  
Open Economies ◽  
Stylized Facts

Lumpy Investment, Business Cycles, and Stimulus Policy

2021 ◽  
Vol 111 (1) ◽  
pp. 364-396 ◽  
Author(s):  
Thomas Winberry
Keyword(s):  
Interest Rate ◽  
Business Cycles ◽  
Interest Rates ◽  
Real Interest Rate ◽  
Extensive Margin ◽  
Investment Behavior ◽  
The Real ◽  
Lumpy Investment ◽  
Aggregate Investment ◽  
Micro Level

I study the aggregate implications of micro-level lumpy investment in a model consistent with the empirical dynamics of the real interest rate. The elasticity of aggregate investment with respect to shocks is procyclical because more firms are likely to make an extensive margin investment in expansions than in recessions. Matching the dynamics of the real interest rate is key to generating this result because it disciplines the interest-elasticity of investment and avoids counterfactual behavior of the model that would otherwise eliminate most of the procyclical responsiveness. Therefore, data on interest rates place important discipline in aggregating micro-level investment behavior. (JEL D25, E13, E22, E23, E43, G31, H25)

Business cycles in open economies: A comment

1994 ◽  
Vol 130 (3) ◽  
pp. 624-629
Author(s):  
Franz R. Hahn
Keyword(s):  
Business Cycles ◽  
Open Economies
Sign in / Sign up

Export Citation Format

Share Document