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Replication data for: Aggregate Implications of Lumpy Investment: New Evidence and a DSGE Model

Version
V0
Resource Type
Dataset
Creator
  • Bachmann, Rüdiger
  • Caballero, Ricardo J.
  • Engel, Eduardo M. R. A.
Publication Date
2013-10-01
Description
  • Abstract

    The sensitivity of US aggregate investment to shocks is procyclical. The response upon impact increases by approximately 50 percent from the trough to the peak of the business cycle. This feature of the data follows naturally from a DSGE model with lumpy microeconomic capital adjustment. Beyond explaining this specific time variation, our model and evidence provide a counterexample to the claim that microeconomic investment lumpiness is inconsequential for macroeconomic analysis.
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/mac.5.4.29 (Text)
Publications
  • Bachmann, Rüdiger, Ricardo J. Caballero, and Eduardo M. R. A. Engel. “Aggregate Implications of Lumpy Investment: New Evidence and a DSGE Model.” American Economic Journal: Macroeconomics 5, no. 4 (October 2013): 29–67. https://doi.org/10.1257/mac.5.4.29.
    • ID: 10.1257/mac.5.4.29 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-13

Bachmann, Rüdiger; Caballero, Ricardo J.; Engel, Eduardo M. R. A. (2013): Replication data for: Aggregate Implications of Lumpy Investment: New Evidence and a DSGE Model. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E114283