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Macro Dynamics

107 papers tracked 0 forthcoming 10 classics
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Published American Economic Journal: Macroeconomics Published Jul 2026
Resource Misallocation in European Firms: The Role of Constraints, Firm Characteristics and Managerial Decisions

Yuriy Gorodnichenko · Debora Revoltella · Jan Svejnar · Christoph T. Weiss

This paper investigates why firms in the European Union exhibit wide dispersion in marginal revenue products (MRP) of capital and labor — a direct indicator of resource misallocation — and asks how …

Forthcoming American Economic Journal: Macroeconomics
Strapped for Cash: The Role of Financial Constraints for Innovating Firms, Misallocation and Aggregate Productivity Growth

Esther Ann Bøler · Andreas Moxnes · Karen Helene Ulltveit-Moe

Firms that invest heavily in intangible assets — patents, R&D, software — face a structural financing disadvantage: intangibles offer limited collateral value to banks, so intangible-intensive firms …

Published American Economic Review Published Aug 2026
Uncertainty and Change: Survey Evidence of Firms' Subjective Beliefs

Rüdiger Bachmann · Kai Carstensen · Stefan Lautenbacher · Manuel Menkhoff · Martin Schneider

A large literature shows that firms perceiving more uncertainty make more cautious intertemporal decisions (investment, hiring, price setting), but it is far less clear what makes firms uncertain in …

Forthcoming American Economic Journal: Macroeconomics
What Drives the Recent Surge in Inflation? The Historical Decomposition Roller Coaster

Drago Bergholt · Fabio Canova · Francesco Furlanetto · Nicolò Maffei-Faccioli · Pål Ulvedal

The paper addresses what drove the post-COVID inflation surge in the United States and internationally. Before answering the substantive question, the authors identify and diagnose a methodological …

Published Journal of Money, Credit and Banking Online 25 Jun 2025 Published Aug 2026
Fiscal Distress and Banking Performance: The Role of Macroprudential Regulation

Hiona Balfoussia · Harris Dellas · Dimitris Papageorgiou

This paper studies a transmission channel from sovereign fiscal weakness to banking performance that the literature has largely overlooked: government-provided deposit insurance, rather than banks' …

Published Classic Journal of Monetary Economics Published Sep 2007
Investment spikes: New facts and a general equilibrium exploration

François Gourio · Anil K. Kashyap

Plant-level data from Chile and the U.S. show that swings in aggregate investment come almost entirely from changes in how many establishments are having an investment spike, not how big those spikes …

Published Classic American Economic Review Published Jun 1988
Investment, Capacity Utilization, and the Real Business Cycle

Jeremy Greenwood · Zvi Hercowitz · Gregory W. Huffman

Keynes's idea that shocks to the marginal efficiency of investment drive fluctuations is placed inside a neoclassical model in which firms choose how hard to run their capital; a shock that raises the …

Published Classic Philosophical Transactions of the Royal Society A: Mathematical, Physical and Engineering Sciences Online 13 Nov 2014 Published Nov 2014
Partial differential equation models in macroeconomics

Yves Achdou · Francisco J. Buera · Jean-Michel Lasry · Pierre-Louis Lions · Benjamin Moll

Written explicitly to get mathematicians interested in macroeconomics, this review collects the systems of coupled nonlinear partial differential equations that arise once a macro model tracks a whole …

Published Classic Quarterly Review (Federal Reserve Bank of Minneapolis) Published Dec 1996
Time to Plan and Aggregate Fluctuations

Lawrence J. Christiano · Richard M. Todd

Investment projects begin with a long planning phase that consumes very little in the way of resources, and building that phase into an otherwise standard real business cycle model delays the response …