特质冲击、块状投资与货币传导机制

The B.E. Journal of Macroeconomics Pub Date : 2020-05-29 DOI:10.1515/bejm-2022-0129

M. Reiter, Tommy Sveen, Lutz Weinke

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摘要

块状投资的标准(S, S)模型允许我们对微观数据的许多方面进行匹配，但众所周知，投资的隐含利率敏感性大得不切实际。事实上，微观层面投资的块状性给投资决策的建模带来了经验的约束，这使得货币政策传导机制难以解释。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Idiosyncratic Shocks, Lumpy Investment and the Monetary Transmission Mechanism

Abstract Standard (S, s) models of lumpy investment allow us to match many aspects of the micro data, but it is well known that the implied interest rate sensitivity of investment is unrealistically large. In fact, the micro-level lumpiness in investment puts empirical discipline on the modeling of investment decisions, and this makes it hard to explain the monetary policy transmission mechanism.

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The B.E. Journal of Macroeconomics

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