Bachmann, Ruediger; Bayer, Christian - 2009
-sections of firm-level real value added and Solow residual innovations, as well as capital and employment adjustment. We find two … new business cycle facts: 1) The cross-sectional standard deviation of firm-level innovations in the Solow residual, value … innovations in the firm-level Solow residual and non-convex adjustment costs calibrated to the non-Gaussian features of the steady …