Lumpy Investment, Sectoral Propagation, and Business Cycles



140

200

Figure 5: Correlation between sectoral and aggregate production (left) and cross sec-
tional distribution of production relative to average (right). The bar and line respec-
tively show the actual data and simulation.


Figure 6: Autocorrelation of GDP (left) and investment (right)


0.8

0.6

0.4

0.2

0.2

-0.4

0.01

0

0.02

0.03

0.04

0.05

ν

-0.6


21




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