search query: @freeterm LUMPY INVESTMENT / total: 1
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| Author: | Thomas, J.K. |
| Title: | Is lumpy investment relevant for the business cycle? |
| Journal: | Journal of Political Economy
2002 : JUN, VOL. 110:3, p. 508-534 |
| Index terms: | BUSINESS CYCLES INDUSTRIAL PLANT |
| Freeterms: | LUMPY INVESTMENT |
| Language: | eng |
| Abstract: | The lumpiness of investment activity at the plant level is a well-established fact. Previous research has suggested that such discrete and occasional adjustment have significant aggregate implications. In particular, it has been argued that changes in plants' willingness to invest in response to aggregate shocks can at times generate large movements in total investment demand. In this study, these predictions are reassessed in a general equilibrium environment. |
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