Bachmann, Ruediger; Bayer, Christian - Volkswirtschaftliches Forschungszentrum <Frankfurt, Main> - 2009
Is time-varying firm-level uncertainty a major cause or amplifier of the businesscycle? This paper investigates this question in the context of a heterogeneousfirmRBC model with persistent firm-level productivity shocks and lumpy capitaladjustment, where cyclical changes in uncertainty...