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Author : John M. Roberts
Publisher :
ISBN 13 :
Total Pages : 41 pages
Book Rating : 4.:/5 (249 download)
Download or read book Modeling Aggregate Investment written by John M. Roberts and published by . This book was released on 2003 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Philip J. Lund
Publisher : Elsevier
ISBN 13 : 1483256901
Total Pages : 176 pages
Book Rating : 4.4/5 (832 download)
Download or read book Investment written by Philip J. Lund and published by Elsevier. This book was released on 2014-07-22 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advanced Textbooks in Economics: Investment: The Study of an Economic Aggregate focuses on the principles, methodologies, and approaches involved in the determination of investments. The book first offers information on the theories of aggregate investment and statistical and questionnaire studies. Discussions focus on statistical studies, tax incentives and disincentives to investment, capital stock adjustment models, acceleration principle, replacement investment, level of aggregation, sources of funds, neoclassical theory of capital accumulation, and tax incentives and disincentives to investment. The text then examines the estimation of lag distributions, including geometrically declining lag distributions, Pascal and rational distributions, variable lag distributions, and the first-in first-out method. The publication ponders on econometric studies, as well as United Kingdom and United States studies, two-stage studies of investment, and guidelines for future research. The text is a dependable source of information for economists and researchers interested in economic aggregates.
Author : John M. Roberts
Publisher :
ISBN 13 :
Total Pages : 66 pages
Book Rating : 4.E/5 ( download)
Download or read book Modeling Aggregate Investment written by John M. Roberts and published by . This book was released on 2003 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert Fry Engle
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.:/5 (146 download)
Download or read book A Supply Function Model of Aggregate Investment written by Robert Fry Engle and published by . This book was released on 1972 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ricardo J. Caballero
Publisher :
ISBN 13 :
Total Pages : 74 pages
Book Rating : 4.3/5 (243 download)
Download or read book Nonlinear Aggregate Investment Dynamics written by Ricardo J. Caballero and published by . This book was released on 1998 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we derive a model of aggregate investment that builds from the lumpy microeconomic behavior of firms facing stochastic fixed adjustment costs. Instead of the standard sharp (S, s) bands, firms' adjustment policies take the form of a probability of adjustment (adjustment hazard) that responds smoothly to changes in firms' capacity gap. The model has appealing aggregation properties, and yields nonlinear aggregate time series processes. The passivity of normal times is, occasionally, more than offset by the brisk response to large accumulated shocks. Using within and out-of-sample criteria, we find that the model performs substantially better than the standard linear models of investment for postwar sectoral U.S. manufacturing equipment and structures investment data.
Author : Ricardo J. Caballero
Publisher :
ISBN 13 :
Total Pages : 82 pages
Book Rating : 4.3/5 ( download)
Download or read book Aggregate Investment written by Ricardo J. Caballero and published by . This book was released on 1997 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 90s have witnessed a revival in economists' interest and hope of explaining" aggregate and microeconomic investment behavior. New theories, better econometric" procedures, and more detailed panel data sets are behind this movement. Much of the progress" has occurred at the level of microeconomic theories and evidence; however aggregation and general equilibrium aspects of the investment problem also has been significant." The concept of sunk costs is at the center of modern theories. The implications of these costs for" investment go well beyond the neoclassical response to the irreversible-technological friction" they represent, for they can also lead to first order inefficiencies when interacting with" informational and contractual problems
Author : Rudolfs Bems
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.:/5 (318 download)
Download or read book Aggregate Investment Expenditures on Tradable and Nontradable Goods written by Rudolfs Bems and published by International Monetary Fund. This book was released on 2008-02 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper shows that aggregate investment expenditure shares on tradable and nontradable goods are very similar across countries and regions. Furthermore, the two expenditure shares have remained close to constant over time, with the average expenditure share on nontradables varying between 0.54-0.62 over the 1960-2004 period. These empirical findings offer a new restriction for two-sector models of the aggregate economy. Combined with the fact that the relative price of nontradables correlates positively with income and exhibits large differences across space and time, our findings suggest that tradable and nontradable goods in investment can be modeled using the Cobb-Douglas aggregator.
Author : Ruediger Bachmann
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (119 download)
Download or read book Aggregate Implications of Lumpy Investment written by Ruediger Bachmann and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sensitivity of U.S. aggregate investment to shocks is procyclical: the initial response increases by approximately 50% from the trough to the peak of the business cycle. This feature of the data follows naturally from a DSGE model with lumpy microeconomic capital adjustment. Beyond explaining this specific time variation, our model and evidence provide a counterexample to the claim that microeconomic investment lumpiness is inconsequential for macroeconomic analysis.
Author : Javier Vallés
Publisher :
ISBN 13 :
Total Pages : 204 pages
Book Rating : 4.:/5 (319 download)
Download or read book Aggregate Investment and Its Price in a Growth Model with Adjustment Costs written by Javier Vallés and published by . This book was released on 1990 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Philip R. de Jong
Publisher :
ISBN 13 :
Total Pages : 29 pages
Book Rating : 4.:/5 (254 download)
Download or read book Aggregate Investment Models of the Jorgenson Type Tested for the Netherlands (Dutch) written by Philip R. de Jong and published by . This book was released on 1978 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Peter B. Dixon
Publisher : Newnes
ISBN 13 : 044462631X
Total Pages : 1886 pages
Book Rating : 4.4/5 (446 download)
Download or read book Handbook of Computable General Equilibrium Modeling written by Peter B. Dixon and published by Newnes. This book was released on 2013-01-08 with total page 1886 pages. Available in PDF, EPUB and Kindle. Book excerpt: Top scholars synthesize and analyze scholarship on this widely used tool of policy analysis in 27 articles, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top U.S. graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it presents a history of modeling applications and examines competing points of view. Presents coherent summaries of CGE theories that inform major model types Covers the construction of CGE databases, model solving, and computer-assisted interpretation of results Shows how CGE modeling has made a contribution to economic policy
Author : Peter Souvertjis
Publisher :
ISBN 13 :
Total Pages : 174 pages
Book Rating : 4.:/5 (222 download)
Download or read book Explanatory Ability of Existing Models of Aggregate Investment in Australia written by Peter Souvertjis and published by . This book was released on 1975 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Luis Serven
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 47 pages
Book Rating : 4./5 ( download)
Download or read book Private Investment and Macroeconomic Adjustment written by Luis Serven and published by World Bank Publications. This book was released on 1989 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mary E. Burfisher
Publisher : Cambridge University Press
ISBN 13 : 1316889378
Total Pages : 443 pages
Book Rating : 4.3/5 (168 download)
Download or read book Introduction to Computable General Equilibrium Models written by Mary E. Burfisher and published by Cambridge University Press. This book was released on 2017-02-01 with total page 443 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an accessible, undergraduate-level introduction to computable general equilibrium (CGE) models, a class of model that has come to play an important role in government policy decisions. The book uses a graphical approach to explain the economic theory that underlies a CGE model, and provides results from simple, small-scale CGE models to illustrate the links between theory and model outcomes. The book includes eleven guided, hands-on exercises that introduce modeling techniques that are applied to real-world economic problems. Students will learn how to integrate their separate fields of economic study into a comprehensive, general equilibrium perspective as they develop their skills as producers or consumers of CGE-based analysis.
Author : Andrew Atkeson
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (19 download)
Download or read book Transitional Dynamics in Aggregate Models of Innovative Investment written by Andrew Atkeson and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: What quantitative lessons can we learn from models of endogenous technical change through innovative investments by firms for the impact of changes in the economic environment on the dynamics of aggregate productivity in the short, medium, and long run? We present a unifying model that nests a number of canonical models in the literature and characterize their positive implications for the transitional dynamics of aggregate productivity and their welfare implications in terms of two sufficient statistics. We review the current state of measurement of these two sufficient statistics and discuss the range of positive and normative quantitative implications of our model for a wide array of counterfactual experiments, including the link between a decline in the entry rate of new firms and a slowdown in the growth of aggregate productivity given that measurement. We conclude with a summary of the lessons learned from our analysis to help direct future research aimed at building models of endogenous productivity growth useful for quantitative analysis.
Author : Giuseppe Bertola
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.3/5 ( download)
Download or read book Irreversibility and Aggregate Investment written by Giuseppe Bertola and published by . This book was released on 1991 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investment is often irreversible, in that installed capital has little or no value unless used in production. In the presence of ongoing uncertainty, an individual firm's irreversible investment policy optimally alternates short bursts of positive gross investment to periods of inaction, when the installed capital stock is allowed to depreciate. The behavior of aggregate investment series is characterized by sluggish, continuous adjustment instead. We argue in this paper that aggregate dynamics should be interpreted in terms of unsynchronized irreversible investment decisions by heterogenous firms, rather than in terms of ad-hoc adjustment cost functions in a representative-agent framework. We propose a closed-form solution for a realistic model of sequential irreversible investment, characterize the aggregate implications of microeconomic irreversibility and idiosyncratic uncertainty, and interpret U.S. data in light of the theoretical results.
Author : Steven Durlauf
Publisher : Springer Science & Business Media
ISBN 13 : 3642612113
Total Pages : 204 pages
Book Rating : 4.6/5 (426 download)
Download or read book Long-Run Economic Growth written by Steven Durlauf and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most enduring questions in economics involves how a nation could accelerate the pace of its economic development. One of the most enduring answers to this question is to promote exports -either because doing so directly influences development via encouraging production of goods for export, or because export promotion permits accumulation of foreign exchange which permits importation of high-quality goods and services, which can in turn be used to expand the nation's production possibilities. In either case, growth is said to be export-led; the latter case is the so-called "two-gap" hypothesis (McKinnon, 1964; Findlay, 1973). The early work on export-led growth consisted of static cross-country com parisons (Michaely, 1977; Balassa, 1978; Tyler, 1981; Kormendi and Meguire, 1985). These studies generally concluded that there is strong evidence in favour of export-led growth because export growth and income growth are highly correlated. However, Kravis pointed out in 1970 that the question is an essen tially dynamic one: as he put it, are exports the handmaiden or the engine of growth? To make this determination one needs to look at time series to see whether or not exports are driving income. This approach has been taken in a number of papers (Jung and Marshall, 1985; Chow, 1987; Serletis, 1992; Kunst and Marin, 1989; Marin, 1992; Afxentiou and Serletis, 1991), designed to assess whether or not individual countries exhibit statistically significant evidence of export-led growth using Granger causality tests.
