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Missing aggregate dynamics : on the slow convergence of lumpy adjustment models
Berger, David; Caballero, Ricardo J.; Engel, Eduardo - 2015
Persistent link: https://www.econbiz.de/10011577984
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Missing aggregate dynamics : on the slow convergence of lumpy adjustment models
Berger, David; Caballero, Ricardo J.; Engel, Eduardo - 2017
Persistent link: https://www.econbiz.de/10011776554
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Lumpy Investment in Dynamic General Equilibrium
Bachmann, Ruediger; Engel, Eduardo M. R. A.; Caballero, … - 2006
-2000 sample, the initial response of investment to a productivity shock with responses in the top quartile is 60% higher than the … shock. Conversely, a slowdown after a boom can lead to a long lasting investment slump, which is unresponsive to policy … smoothing in the investment response to aggregate shocks. The remaining 40% is explained by general equilibrium forces. The …
Persistent link: https://www.econbiz.de/10014057432
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Aggregate implications of lumpy investment : new evidence and a DSGE model
Bachmann, Ruediger; Caballero, Ricardo J.; Engel, Eduardo - In: American economic journal : a journal of the American … 5 (2013) 4, pp. 29-67
Persistent link: https://www.econbiz.de/10010236537
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Aggregate Implications of Lumpy Investment : New Evidence and a DSGE Model
Bachmann, Ruediger - 2010
The sensitivity of U.S. aggregate investment to shocks is procyclical: the initial response increases by approximately … counterexample to the claim that microeconomic investment lumpiness is inconsequential for macroeconomic analysis …
Persistent link: https://www.econbiz.de/10012761267
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Aggregate Implications of Lumpy Investment : New Evidence and a DSGE Model
Bachmann, Ruediger - 2006
The sensitivity of U.S. aggregate investment to shocks is procyclical: the initial response increases by approximately … counterexample to the claim that microeconomic investment lumpiness is inconsequential for macroeconomic analysis …
Persistent link: https://www.econbiz.de/10012466329
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Aggregate Implications of Lumpy Investment : New Evidence and a DSGE Model
Bachmann, Ruediger; Caballero, Ricardo J.; Engel, … - 2011
The sensitivity of U.S. aggregate investment to shocks is procyclical: the response upon impact increases by … a counterexample to the claim that microeconomic investment lumpiness is inconsequential for macroeconomic analysis …
Persistent link: https://www.econbiz.de/10014217331
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The Safety Trap
Caballero, Ricardo J. - 2016
In this paper we provide a model of the macroeconomic implications of safe asset shortages. In particular, we discuss the emergence of a deflationary safety trap equilibrium with high risk premia. It is an acute form of a liquidity trap, in which the shortage of a specific form of assets, safe...
Persistent link: https://www.econbiz.de/10013006687
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The Safety Trap
Caballero, Ricardo J. - 2014
In this paper we provide a model of the macroeconomic implications of safe asset shortages. In particular, we discuss the emergence of a deflationary safety trap equilibrium with endogenous risk premia. It is an acute form of a liquidity trap, in which the shortage of a specific form of assets,...
Persistent link: https://www.econbiz.de/10013058249
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The Safety Trap
Caballero, Ricardo J. - 2014
In this paper we provide a model of the macroeconomic implications of safe asset shortages. In particular, we discuss the emergence of a deflationary safety trap equilibrium with endogenous risk premia. It is an acute form of a liquidity trap, in which the shortage of a specific form of assets,...
Persistent link: https://www.econbiz.de/10012458738