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Hayashi meets Kiyotaki and Moore : a theory of capital adjustment cost

Wang, Pengfei; Wen, Yi - 2010

Persistent link: https://www.econbiz.de/10008668603

Lumpy investment and corporate tax policy

Miao, Jianjun; Wang, Pengfei - In: Journal of money, credit and banking : JMCB 46 (2014) 6, pp. 1171-1203

Persistent link: https://www.econbiz.de/10010466620

Hayashi Meets Kiyotaki and Moore : A Theory of Capital Adjustment Costs

Wang, Pengfei - 2011

Firm-level investment is lumpy and volatile but aggregate investment is much smoother and highly serially correlated …. These different patterns of investment behavior have been viewed as indicating convex adjustment costs at the aggregate … yet at the same time generate lumpiness in plant-level investment. In particular, our model can (i) derive aggregate …

Persistent link: https://www.econbiz.de/10013132690

Lumpy Investment and Corporate Tax Policy

Wang, Pengfei - 2010

future corporate income tax rate raises investment and adjustment rate immediately, while an anticipated increase in the … future investment tax credit reduces investment and adjustment rate initially. Our general equilibrium analysis demonstrates …

Persistent link: https://www.econbiz.de/10013148113

Hayashi meets Kiyotaki and Moore : a theory of capital adjustment costs

Wang, Pengfei; Wen, Yi - In: Review of economic dynamics 15 (2012) 2, pp. 207-225

Persistent link: https://www.econbiz.de/10010218754

Lumpy investment and corporate tax policy

Miao, Jianjun; Wang, Pengfei - 2009

Persistent link: https://www.econbiz.de/10008698741

Financial development and economic volatility : a unified explanation

Wang, Pengfei; Wen, Yi - 2009

Persistent link: https://www.econbiz.de/10003831935

Financial constraints, endogenous markups, and self-fulfilling equilibria

Benhabib, Jess; Wang, Pengfei - 2012

Persistent link: https://www.econbiz.de/10009548831

Private information and sunspots in sequential asset markets

Benhabib, Jess; Wang, Pengfei - In: Journal of economic theory 158 (2015), pp. 558-584

Persistent link: https://www.econbiz.de/10011548880

Sentiments, Financial Markets, and Macroeconomic Fluctuations

Benhabib, Jess - 2016

This paper studies how financial information frictions can generate sentiment-driven fluctuations in asset prices and self-fulfilling business cycles. In our model economy, exuberant financial market sentiments of high output and high demand for capital increase the price of capital, which...

Persistent link: https://www.econbiz.de/10013005298