Lumpy investment, lumpy inventories
The link between the microenvironment (frictions and heterogeneity) and the macroeconomic dynamics of general equilibrium macromodels is influenced by exactly how general equilibrium closes the model. We make this observation concrete using the recent literature on how nonconvex capital adjustment c...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2016
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/soe_research/2504 https://ink.library.smu.edu.sg/context/soe_research/article/3503/viewcontent/bachmann_ma_current.pdf |
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| Institution: | Singapore Management University |
| Language: | English |