question in the context of a heterogeneous-firm RBC model with persistent firm-level productivity shocks and lumpy capital …

-level investment is procyclical. We show that a heterogeneous-firm RBC model with quantitatively realistic countercyclically disperse … state investment rate distribution, produces investment dispersion that positively comoves with the cycle, with a …

The paper studies the interaction between cyclical uncertainty and investment in a stochastic real option framework … of the link between cyclical uncertainty and investment is quantified using simulations of the model. The chief …

.2% higher today if productivity-enhancing investment intensity had remained at its pre-crisis level …This paper identifies the mechanism through which financial crises exert long-term negative effects on output. Theory … suggests that a shortfall in productivity-enhancing investments temporarily slows technological progress, creating a gap …

expansionary while those in the investment sector are broadly contractionary. Our results indicate a significant role of TFP news …-movement and account for approximately, 31%, 21%, 43%, 29% in the variance of output, investment, hours worked, and consumption …