Investment Dispersion and the Business Cycle
---- Acknowledgments ----
We thank Giuseppe Moscarini and Matthew Shapiro for his comments. We are grateful to seminar/meeting participants at Amsterdam, the ASSA (San Francisco), Bonn, Duke, ECARES (Brussels), ESSIM 2009, Georgetown, Groningen, Johns Hopkins, Innsbruck, Michigan-Ann Arbor, Michigan State, Minneapolis FED, Notre Dame, Regensburg, SED (Istanbul), Wisconsin-Madison and Zürich for their comments. We thank the staff of the Research Department of Deutsche Bundesbank for their assistance. Special thanks go to Timm Koerting for excellent research assistance. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.