smoothing in the investment response to aggregate shocks. The remaining 40% is explained by general equilibrium forces. The … particular, booms feed into themselves. The longer an expansion, the larger the response of investment to an additional positive … shock. Conversely, a slowdown after a boom can lead to a long lasting investment slump, which is unresponsive to policy …

The authors study a model of lumpy investment wherein establishments face persistent shocks to common and plant …-specific productivity, and nonconvex adjustment costs lead them to pursue generalized (S,s) investment rules. They allow persistent … the first model consistent with the cross-sectional distribution of establishment investment rates. Examining the …

This paper examines the effect of firm-level investment in capital on export entry and productivity growth among … different firm size classes using matching and difference-in-differences techniques. We find that firm-level investment in … of exporting also grow their investment levels to consolidate market share. We show that micro and small firms that …

corporate taxes on productivity and investment. Applying a differences-in-differences estimation strategy which exploits … investment analysis, the results suggest that corporate taxes reduce investment through an increase in the user cost of capital …

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 …

-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 …