Gilchrist, Simon; Zakrajsek, Egon; Natalucci, Fabio - Society for Computational Economics - SCE - 2006
on business fixed investment are often blamed on a lack of identification. In this paper, we study the effect of … variation in interest rates on investment spending, employing a large new panel data set that links yields on outstanding … quantitatively important effect of real interest rates on the firm-level investment decisions. According to our estimates, a one …