NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

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

Ruediger Bachmann, Ricardo J. Caballero, Eduardo M.R.A. Engel

NBER Working Paper No. 12336
Issued in June 2006

---- Acknowledgements -----

We are grateful to Olivier Blanchard, William Brainard, Jordi Galí, Pete Klenow, John Leahy, Giuseppe Moscarini, Anthony Smith, Julia Thomas and seminar/meeting participants at the AEA (Chicago), Bonn, Cornell, Econometric Society (Bogotá), Karlsruhe, Mainz, NBER-EFG, NYU, SITE, U. de Chile (CEA) and Yale for their comments on an earlier version (April, 2006) of this paper, entitled "Lumpy Investment in Dynamic General Equilibrium." Financial support from NSF is gratefully acknowledged.

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