Caballero, Ricardo J.; Engel, Eduardo M.R.A. - 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 …In most instances, the dynamic response of monetary and other policies to shocks is infrequent and lumpy. The same …
