shock. Our estimated model uncovers a central role for investment in the transmission mechanism of monetary policy, as high … MPCs amplify the investment response in the data. This force also generates a procyclical response of consumption to … investment shocks, leading our model to infer a central role for these shocks as a source of business cycles. …

main contention of Keynes and Wicksell was saving-investment imbalances (i.e. capital market failures and intertemporal … stock whereby it is possible to assess, and hopefully clarify, some basic issues concerning the macroeconomics of saving-investment …

firm level investment and high-frequency identified monetary policy shocks. We show that the reaction of firms' investment …

This study explores the determinants of investment using both aggregated industry-level data and disaggretated data on … government has potentially powerful means at its disposal to stimulate private investment. In particular, a domestic demand … stimulus and public investment expansion will produce large gains in private investment. While the direct effects of lowering …

We contrast how monetary policy affects intangible relative to tangible investment. We document that the stock prices … total investment in firms with more intangible assets responds less to monetary policy, and that intangible investment … responds less to monetary policy compared to tangible investment. We identify two mechanisms behind these results. First, firms …