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    • Aggregate Implications of Lumpy Investment: New Evidence and a DSGE Model 

      Bachmann, Rüdiger; Caballero, Ricardo J.; Engel Goetz, Eduardo (AMER ECONOMIC ASSOC, 2013-10)
      The sensitivity of US aggregate investment to shocks is procyclical. The response upon impact increases by approximately 50 percent from the trough to the peak of the business cycle. This feature of the data follows naturally ...