【Macro Seminar】Heterogenous Firms and the Dynamics of Investment
2025/09/30
研討會日期 : 2025-09-30
時間 : 14:30
主講人 : Dr. Fergal Hanks
地點 : Conference Room B110
主持人 : Professor Sung-Ju Wu
演講者簡介 : Dr. Fergal Hanks received his Ph.D. in Economics from Northwestern University in 2024. He is currently a Postdoc at the University of Cambridge. His research interests are Macroeconomics and Labor Economics.
演講摘要 : We show that standard heterogeneous firm models of investment feature investment responses that decrease steadily after a shock and a positive relationship between the magnitude of the initial response to a shock and the speed of convergence of capital. This is inconsistent with the hump shaped responses found in the data. To resolve this tension we add stochastic time to build to the standard model. This feature generates hump shaped responses and enables the model to match micro moments of investment as well as the response dynamics.
