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-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 …-sectional firm dynamics ; lumpy investment ; countercyclical risk ; aggregate shocks ; idiosyncratic shocks ; heterogeneous firms …
Persistent link: https://www.econbiz.de/10003888063
Productivity. We endogenize the accrual of the R&D stocks by estimating an R&D investment function. We find that the marginal …
Persistent link: https://www.econbiz.de/10011573960
We consider the issue of steady-state optimal factor taxation in a Ramsey-type dynamic general equilibrium setting with two distinct distortions: i) taxes on capital and labour are the only available tax instruments for raising revenues, and ii) labour markets are subject to a static...
Persistent link: https://www.econbiz.de/10011514112
explaining the consumption path after a Marginal Efficiency of Investment shock. We use an otherwise standard medium-scale New …
Persistent link: https://www.econbiz.de/10011515322
This paper explores time variation in the dynamic effects of technology shocks on U.S. output, prices, interest rates as well as real and nominal wages. The results indicate considerable time variation in U.S. wage dynamics that can be linked to the monetary policy regime. Before and after the...
Persistent link: https://www.econbiz.de/10008806609
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 …
Persistent link: https://www.econbiz.de/10009753003
SMPEs with positive taxable income increased investment, interest expense and productivity. SMPEs in taxable losses did not …
Persistent link: https://www.econbiz.de/10012668013
IT investment in any sectors, it does significantly improve labor productivity for firms in manufacturing and in …, cloud usage is expected to increase the productivity of firms, as it allows them to quickly customize the IT they require to …
Persistent link: https://www.econbiz.de/10013368656
Persistent link: https://www.econbiz.de/10003498769
This paper considers cost-reducing R&D investment with spillovers in a Cournot oligopoly with minority shareholdings …
Persistent link: https://www.econbiz.de/10011482905