-level investment is procyclical. We show that a heterogeneous-firm RBC model with quantitatively realistic countercyclically disperse … state investment rate distribution, produces investment dispersion that positively comoves with the cycle, with a …-sectional firm dynamics ; lumpy investment ; countercyclical risk ; aggregate shocks ; idiosyncratic shocks ; heterogeneous firms …

-varying uncertainty, highlighted in the literature. -- Ss model ; RBC model ; lumpy investment ; countercyclical risk ; aggregate shocks …

effect of time-varying uncertainty, highlighted in the literature. -- Ss model ; RBC model ; lumpy investment …

of firm-level investment is procyclical. We show that a heterogeneousfirm RBC model with quantitatively realistic … of the steady state investment rate distribution, produces investment dispersion that positively comoves with the cycle … ; cross-sectional firm dynamics ; lumpy investment ; countercyclical risk ; aggregate shocks ; idiosyncratic shocks …

-driven business cycle hypothesis for the case of aggregate investment. We construct a survey-based measure of technology shocks to … gauge their contribution to short-run investment fluctuations. We estimate an upper bound for the contribution of technology … shocks to the variance of the aggregate investment growth rate of 19 percent. The larger part of fluctuations in aggregate …

surpluses will experience a sharp decline. Investment, on the other hand, remains weak, partially due to the fact that Brexit …