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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

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

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

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

Adjustment is much slower than you think

Caballero, Ricardo J.; Engel, Eduardo - 2003

holds for the microeconomic response of some of the most important economic variables, such as investment, labor demand, and … actual response to shocks is less than half as fast as the estimated response. For investment, labor demand and prices, the …, even after aggregating investment across all establishments in U.S. manufacturing, the estimate of its speed of adjustment …

Persistent link: https://www.econbiz.de/10011609531