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Uncertainty, investment, and industry revolution

Caballero, Ricardo J.; Pindyck, Robert S. - 1992

Persistent link: https://www.econbiz.de/10000136756

Uncertainty, Investment, and Industry Evolution

Caballero, Ricardo J. - 1992

We study the effects of aggregate and idiosyncratic uncertainty on the entry of firms, total investment, and prices in … a competitive industry with irreversible investment. We first use standard dynamic programming methods to determine …

Persistent link: https://www.econbiz.de/10012474808

Uncertainty, Investment, and Industry Evolution

Caballero, Ricardo J.; Pindyck, Robert S. - 2021

Persistent link: https://www.econbiz.de/10013227891

Adjustment is much slower than you think

Caballero, Ricardo J.; Engel, Eduardo - 2003

holds for the microeconomic response of some of the most important economic variables, such as investment, labor demand, and … actual response to shocks is less than half as fast as the estimated response. For investment, labor demand and prices, the …, even after aggregating investment across all establishments in U.S. manufacturing, the estimate of its speed of adjustment …

Persistent link: https://www.econbiz.de/10011609531

Specificity and the Macroeconomics of Restructuring

Caballero, Ricardo J. - The MIT Press

of unemployment, investment, and wages. Finally, he looks at the endogenous response of political institutions and …

Persistent link: https://www.econbiz.de/10004973163

Missing Aggregate Dynamics: On the Slow Convergence of Lumpy Adjustment Models

Caballero, Ricardo J.; Engel, Eduardo M.R.A. - Cowles Foundation for Research in Economics, Yale University - 2003

The dynamic response of aggregate variables to shocks is one of the central concerns of applied macroeconomics. The main measurement procedure for these dynamics consists of estimmiating an ARMA or VAR (VARs, for short). In non- or semi-structural approaches, the characterization of dynamics...

Persistent link: https://www.econbiz.de/10005762701