Idiosyncratic Shocks, Lumpy Investment and the Monetary Transmission Mechanism

Abstract: Standard (S, s) models of lumpy investment allow us to match many aspects of the micro data, but it is well known that the implied interest rate sensitivity of investment is unrealistically large. In fact, the micro-level lumpiness in investment puts empirical discipline on the modeling of investment decisions, and this makes it hard to explain the monetary policy transmission mechanism.

Object Details

• Location: Deutsche Nationalbibliothek Frankfurt am Main
• Extent: Online-Ressource
• Language: Englisch

References and Relationships

• Bibliographic citation: Idiosyncratic Shocks, Lumpy Investment and the Monetary Transmission Mechanism ; volume:23 ; number:2 ; year:2023 ; pages:1037-1055 ; extent:19 ; The B.E. journal of macroeconomics ; 23, Heft 2 (2023), 1037-1055 (gesamt 19)

Contributors, Places and Time

• Creator: Reiter, Michael ; Sveen, Tommy ; Weinke, Lutz

Further information

• DOI: 10.1515/bejm-2022-0129
• URN: urn:nbn:de:101:1-2023090114090922924955
• Rights: Open Access; Der Zugriff auf das Objekt ist unbeschränkt möglich.
• Last update: 14.08.2025, 10:57 AM CEST