{"title":"特质冲击、块状投资与货币传导机制","authors":"M. Reiter, Tommy Sveen, Lutz Weinke","doi":"10.1515/bejm-2022-0129","DOIUrl":null,"url":null,"abstract":"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.","PeriodicalId":431854,"journal":{"name":"The B.E. Journal of Macroeconomics","volume":"148 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2020-05-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Idiosyncratic Shocks, Lumpy Investment and the Monetary Transmission Mechanism\",\"authors\":\"M. Reiter, Tommy Sveen, Lutz Weinke\",\"doi\":\"10.1515/bejm-2022-0129\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"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.\",\"PeriodicalId\":431854,\"journal\":{\"name\":\"The B.E. Journal of Macroeconomics\",\"volume\":\"148 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2020-05-29\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"The B.E. Journal of Macroeconomics\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1515/bejm-2022-0129\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"The B.E. Journal of Macroeconomics","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1515/bejm-2022-0129","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
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.
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