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Investment Spikes: New Facts and a General Equilibrium Exploration

  • Anil Kashyap

    (U of Chicago GSB)

  • Francois Gourio

    (Boston University)

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 very different properties than the standard RBC model for some shocks.

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Paper provided by Society for Economic Dynamics in its series 2007 Meeting Papers with number 148.

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Date of creation: 2007
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Handle: RePEc:red:sed007:148
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  24. Sveen, Tommy & Weinke, Lutz, 2007. "Lumpy investment, sticky prices, and the monetary transmission mechanism," Journal of Monetary Economics, Elsevier, vol. 54(Supplemen), pages 23-36, September.
  25. Lucia Foster & John Haltiwanger & Namsuk Kim, 2006. "Gross Job Flows for the U.S. Manufacturing Sector: Measurement from the Longitudinal Research Database," Working Papers 06-30, Center for Economic Studies, U.S. Census Bureau.
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