| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w13157 |
| 来源ID | Working Paper 13157 |
| Investment Spikes: New Facts and a General Equilibrium Exploration | |
| Francois Gourio; Anil K. Kashyap | |
| 发表日期 | 2007-06-07 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | Using plant-level data from Chile and the U.S. we show that investment spikes are highly pro-cyclical, so much so that changes in the number of establishments undergoing investment spikes (the "extensive margin") account for the bulk of variation in aggregate investment. The number of establishments undergoing investment spikes also has independent predictive power for aggregate investment, even controlling for past investment and sales. We re-calibrate the Thomas (2002) model (that includes fixed costs of investing) so that it assigns a prominent role to extensive adjustment. The recalibrated model has different properties than the standard RBC model for some shocks. |
| 主题 | Macroeconomics ; Consumption and Investment ; Business Cycles |
| URL | https://www.nber.org/papers/w13157 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/570826 |
| 推荐引用方式 GB/T 7714 | Francois Gourio,Anil K. Kashyap. Investment Spikes: New Facts and a General Equilibrium Exploration. 2007. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w13157.pdf（332KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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