【ECON201211】

宏观经济学研讨会

（总第116期）

【时间】2012年5月22日（周二）12：15－13：45

【地点】明主0304教室

【主讲】江艇博士 中国人民大学经济学院讲师、香港科技大学博士

【主题】Investment spikes: New facts and a general equilibrium exploration（written by Gourio and Kashyap, JME, 2007）

【摘要】Using plant-level data from Chile and the U.S., we show that investment spikes are highly pro-cyclical, so much so that changes in the number of establishments undergoing investment spikes(the ‘‘extensive margin’’) account for the bulk of variation in aggregate investment. The number of establishments undergoing investment spikes also has independent predictive power for aggregate investment, even controlling for past investment and sales. We re-calibrate the Thomas [2002. Is lumpy investment relevant for the business cycle. Journal of Political Economy, CX 508–534] model(that includes fixed costs of investing) so that it assigns a prominent role to extensive adjustment. The recalibrated model has different properties than the standard RBC model for some shocks.

【主持】陈彦斌教授

人大宏观经济学研讨会（Macro Workshop）旨在追踪宏观经济学国际最新进展，倡导构建符合国情的动态优化模型（尤其是Bewley模型）并使用计算机模拟研究中国经济改革与发展的重大问题。

联系人：姚一旻　　E_mail: yaoyimin123@sina.com

更多讲座信息欢迎访问se.ruc.edu.cn，www.yanjiuyuan.com.cn

经济学院

中国经济改革与发展研究院