-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 …

investment and hiring. Productivity growth also falls because this pause in activity freezes reallocation across units. In the … medium term the increased volatility from the shock induces an overshoot in output, employment and productivity. Thus, second … oil-price shock and the 9/11 terrorist attack. This paper offers a structural framework to analyze the impact of these …

investment and hiring. Productivity growth also falls because this pause in activity freezes reallocation across units. In the … medium term the increased volatility from the shock induces an overshoot in output, employment and productivity. Thus, second … oil-price shock and the 9/11 terrorist attack. This paper offers a structural framework to analyze the impact of these …

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 …

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 …

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 …