Based on recent evidence of fractional cointegration in commodity spot and futures markets, we investigate whether a …

-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 …

In this paper, we assess the role of investment in research and development (R&D) and economic policy uncertainty (EPU … the evolution of total factor productivity (TFP) in the country. Using historical time series data (1980-2018), we find …, although it is short-lived. Our findings are robust and have important implications for R&D investment and for moderating EPU. …

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 …