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The empirical values indicate significant effects of aggregate productivity shocks and favor investment models with a strong downsizing rigidity and random opportunities for free adjustments.<\/jats:p>","DOI":"10.3982\/ecta17344","type":"journal-article","created":{"date-parts":[[2021,5,3]],"date-time":"2021-05-03T08:20:13Z","timestamp":1620030013000},"page":"1235-1264","source":"Crossref","is-referenced-by-count":46,"title":["Aggregate Dynamics in Lumpy Economies"],"prefix":"10.3982","volume":"89","author":[{"given":"Isaac","family":"Baley","sequence":"first","affiliation":[{"name":"Department of Economics and Business, Universitat Pompeu Fabra"},{"name":"CREI"},{"name":"Barcelona GSE"},{"name":"CEPR"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Andr\u00e9s","family":"Blanco","sequence":"additional","affiliation":[{"name":"Department of Economics, University of Michigan"}],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"2359","published-online":{"date-parts":[[2021]]},"reference":[{"issue":"4","key":"ecta200296-bib-0001","doi-asserted-by":"crossref","first-page":"581","DOI":"10.2307\/2297794","volume":"63","author":"Abel","year":"1996","journal-title":"The Review of Economic Studies"},{"key":"ecta200296-bib-0002","unstructured":"Alexandrov, A. 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