Bio

Xing Guo is the Senior Economist in the Canadian Economic Analysis (CEA) Department. His research interests include macro finance and monetary economics. He holds a Ph.D. in Economics from the University of Michigan.

Show all

Staff Working Papers

Identifying Aggregate Shocks with Micro-level Heterogeneity: Financial Shocks and Investment Fluctuation

Staff Working Paper 2020-17 Xing Guo
This paper identifies the aggregate financial shocks and quantifies their effects on business investment based on an estimated DSGE model with firm-level heterogeneity. On average, financial shocks contribute only 1.1% of the variation in U.S. public firms' aggregate investment.
Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Firm dynamics JEL Code(s): E, E1, E12, E2, E22, G, G3, G31, G32

See More