An interaction-based foundation of aggregate investment fluctuations
نویسندگان
چکیده
منابع مشابه
Forthcoming in Theoretical Economics AN INTERACTION-BASED FOUNDATION OF AGGREGATE INVESTMENT FLUCTUATIONS
This study demonstrates that the interactions of firm-level indivisible investments give rise to aggregate fluctuations without aggregate exogenous shocks. When investments are indivisible, aggregate capital is determined by the number of firms that invest. I develop a method to derive the closed-form distribution of the number of investing firms when each firm’s initial capital level varies st...
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ژورنال
عنوان ژورنال: Theoretical Economics
سال: 2015
ISSN: 1933-6837
DOI: 10.3982/te1611