Arbeitspapier
Lumpy Investment and State-Dependent Pricing in General Equilibrium
The lumpy nature of plant-level investment is generally not taken into account in the context of monetary theory (see, e.g., Christiano et al. 2005 and Woodford 2005). We formulate a generalized (S,s) pricing and investment model which is empirically more plausible along that dimension. Surprisingly, our main result shows that the presence of lumpy investment casts doubt on the ability of sticky prices to imply a quantitatively relevant monetary transmission mechanism.
- ISBN
-
978-82-7553-493-2
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 2009/05
- Klassifikation
-
Wirtschaft
Investment; Capital; Intangible Capital; Capacity
Price Level; Inflation; Deflation
Business Fluctuations; Cycles
- Thema
-
lumpy investment
sticky prices
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Reiter, Michael
Sveen, Tommy
Weinke, Lutz
- Ereignis
-
Veröffentlichung
- (wer)
-
Norges Bank
- (wo)
-
Oslo
- (wann)
-
2009
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Reiter, Michael
- Sveen, Tommy
- Weinke, Lutz
- Norges Bank
Entstanden
- 2009
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