Browsing by Author "Caballero, Ricardo J."

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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 ...
    • Effective labor regulation and microeconomic flexibility 
      Caballero, Ricardo J.; Cowan, Kevin N.; Engel Goetz, Eduardo; Micco Aguayo, Alejandro (ELSEVIER, 2013-03)
      Microeconomic flexibility is at the core of economic growth in modern market economies because it facilitates the process of creative-destruction. The main reason why this process is not infinitely fast, is the presence ...