Investment Spikes: New Facts and a General Equilibrium Exploration


Joint work with Anil K Kashyap, University of Chicago GSB.


Paper  (JME version)


Longer version (NBER working paper)




Matlab programs: zipped folder


Note: to solve the model with the convex-concave cdf used in some experiments, the set of programs to use are slightly different: use these programs.


Technical Appendix on the model (steady-state and log-linearization).





Data: selected moments from:

-          US Census,

-          Chilean Census.