Belke, Ansgar; Göcke, Matthias - 2019
direct interest rate-hysteresis effects on investment and the capital stock and, explicitly, stochastic changes of the … interest rate-investment hysteresis relationship. Starting with hysteresis effects on a microeconomic level of a single firm …, we apply an explicit aggregation procedure to derive the interest rate-hysteresis effects on a macroeconomic level. Based …