Fagiolo G.; Roventini A. - Society for Computational Economics - SCE - 2004
Empirical literature on investment and output dynamics is characterized by two robust stylized facts at the macro level …. First, investment is considerably more volatile than output. Second, fluctuations of output and investment are highly … synchronized. Furthermore, at the micro level, firm investment appears to be very lumpy. In this paper, we ask whether the two …