-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 …

This paper proposes a new framework for studying the effects of monetary policy on business investment. Important … ambiguities with the modeling of investment dynamics and interactions between real and financial decisions suggest modeling … investment spending as a VAR. Based on a panel of financial statement data for 6,408 German firms (44,345 datapoints …

This paper proposes a new framework for studying the effects of monetary policy on business investment. Important … ambiguities with the modeling of investment dynamics and interactions between real and financial decisions suggest modeling … investment spending as a VAR. Based on a panel of financial statement data for 6,408 German firms (44,345 datapoints …

investment in knowledge, and its productivity, looking at sectoral peculiarities which may emerge; to this end, we use a large … positive impact on a firm's productivity, with an overall elasticity of about 0.10; this general result is largely consistent … ahead in terms of the impact on productivity of their R&D investments; moreover, a shift in favour of the service sectors …

investment in knowledge, and its productivity, looking at sectoral peculiarities which may emerge; to this end, we use a large … positive impact on a firm's productivity, with an overall elasticity of about 0.10; this general result is largely consistent … ahead in terms of the impact on productivity of their R&D investments; moreover, a shift in favour of the service sectors …

statistically significant evidence of the expected labor-friendly nature of innovation. More in detail, neither R&D nor investment …

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 …