Investment in physical capital at the microlevel is infrequent and large, or lumpy. The most
common explanation for this is that firms face nonconvex physical adjustment costs. The …

By introducing rational inattention into the setting in which an entrepreneurial firm has a
growth option but has to issue equity to raise funds from a venture capitalist, we study the …

笔者利用一个改进的内生信息粘滞模型, 首次测算了中国定价者的最优信息收集间隔,
为宏观政策的研究提供了微观基础. 通过对比中美两国, 以及1992 年价格改革前后的最优信息 …

Expectations are a keystone concept in macroeconomics, employed across numerous
theories and models. The intention of this thesis is to draw upon the richness of economic …

This paper provides an alternative explanation for the microeconomic lumpiness of capital
adjustment. Previous research has argued that capital adjustment is lumpy because firms …

This thesis consists of three essays that share a common goal of analyzing investment
decisions and their macroeconomic implications. In particular, the thesis focuses on two …

It is a heavily discussed question in the economics literature whether oligopolistic firms
choose to synchronize the adjustment of their prices (or quantities) or if they adjust them at …

In the first chapter, I study a model in which intangible capital accumulation is the driving
force of medium-term business cycle. The study is motivated by recent empirical research …

This paper analyzes an infinite horizon dynamic duopoly with stochastic demand in which
firms face costs of absorbing and processing information. Our main result is that the structure …