investment-specific productivity. We document that in U.S. postwar quarterly data total factor productivity (TFP) and the … cointegrated if and only if neutral and investment-specific productivity share a common stochastic trend. We econometrically … relative price of investment are cointegrated. We show theoretically that TFP and the relative price of investment are …

investment-specific productivity. We document that in U.S. postwar quarterly data total factor productivity (TFP) and the … cointegrated if and only if neutral and investment-specific productivity share a common stochastic trend. We econometrically … relative price of investment are cointegrated. We show theoretically that TFP and the relative price of investment are …

equipment-goods sectors are cointegrated if and only if the aggregate neutral productivity and the investment … common stochastic trend of sectoral productivities in explaining the movements of investment-specific technology as well as … those of interesting macroeconomic aggregates such as output, consumption, investment and hours worked. For this end, I …

-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 …

question in the context of a heterogeneous-firm RBC model with persistent firm-level productivity shocks and lumpy capital …-varying uncertainty, highlighted in the literature. -- Ss model ; RBC model ; lumpy investment ; countercyclical risk ; aggregate shocks …