| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 966997 | Journal of Monetary Economics | 2011 | 15 Pages |
Abstract
⺠In manufacturing, plant-level output is adjusted in a discrete, lumpy way. ⺠Only a fraction of plants adjust output in response to shocks. ⺠Calibrated to U.S. observations, this reduces responses of aggregate output to shocks. ⺠Volatility of aggregate output becomes counter-cyclical. ⺠Expansionary government policy becomes slightly more effective in downturns.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Roman Å ustek,