The Resource Detecting propagation effects by observing aggregate distributions : the case of lumpy investments, Luigi Guiso, Chaoqun Lai and Makoto Nirei

Detecting propagation effects by observing aggregate distributions : the case of lumpy investments, Luigi Guiso, Chaoqun Lai and Makoto Nirei

Label
Detecting propagation effects by observing aggregate distributions : the case of lumpy investments
Title
Detecting propagation effects by observing aggregate distributions
Title remainder
the case of lumpy investments
Statement of responsibility
Luigi Guiso, Chaoqun Lai and Makoto Nirei
Creator
Contributor
Author
Subject
Language
eng
Summary
By using an extensive panel data set of Italian firms, we show empirically that the fraction of firms that engage in a lumpy investment follows a non-normal, double-exponential distribution across region-year. We propose a simple sectoral model that generates the double-exponential distribution that arises from the complementarity of the firms' lumpy investments within a region. We calibrate the degree of complementarity by estimating an individual firm's behavior with the firm-level data. Simulations show that the degree of complementarity estimated at the firm level is consistent with the double-exponential fluctuations observed at the aggregate level
Member of
Cataloging source
IT-FiEUI
http://library.link/vocab/creatorName
Guiso, Luigi
Index
no index present
Literary form
non fiction
http://library.link/vocab/relatedWorkOrContributorName
  • Lai, Chaoqun
  • Nirei, Makoto
  • European University Institute
Series statement
  • EUI working papers. ECO
  • EUI papers
Series volume
2011/25
http://library.link/vocab/subjectName
Investments
Label
Detecting propagation effects by observing aggregate distributions : the case of lumpy investments, Luigi Guiso, Chaoqun Lai and Makoto Nirei
Link
http://hdl.handle.net/1814/18095
Instantiates
Publication
Note
Keywords: Interaction models; strategic complementarity; propagation effect; non-Gaussian fluctuations; double-exponential distribution; L16; E22
Bibliography note
Includes bibliographical references (pages 44-47)
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier.
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Control code
FIEb17060345
Dimensions
30 cm.
Extent
47 pages
Media category
unmediated
Media MARC source
rdamedia.
Media type code
  • n
System control number
(OCoLC)851516924
Label
Detecting propagation effects by observing aggregate distributions : the case of lumpy investments, Luigi Guiso, Chaoqun Lai and Makoto Nirei
Link
http://hdl.handle.net/1814/18095
Publication
Note
Keywords: Interaction models; strategic complementarity; propagation effect; non-Gaussian fluctuations; double-exponential distribution; L16; E22
Bibliography note
Includes bibliographical references (pages 44-47)
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier.
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Control code
FIEb17060345
Dimensions
30 cm.
Extent
47 pages
Media category
unmediated
Media MARC source
rdamedia.
Media type code
  • n
System control number
(OCoLC)851516924

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