Published Classic Econometrica Published Mar 2008Idiosyncratic Shocks and the Role of Nonconvexities in Plant and Aggregate Investment DynamicsAubhik Khan · Julia K. ThomasThis 2008 *Econometrica* paper (circulated as NBER Working Paper 12845, January 2007) revisits whether "lumpy" plant-level investment -- infrequent, large capital adjustments driven by nonconvex …