Econometric studies of investment behavior: A survey
DW Jorgenson - Journal of Economic literature, 1971 - JSTOR
Journal of Economic literature, 1971•JSTOR
… Introduction IN THIS PAPER the reader will find a review of econometric studies of
investment in fixed capital. A review of these … The second part of our review is devoted to
studies of investment behavior by industry groups within American manufacturing. In
reviewing these studies we concentrate on econometric models of investment behavior for
two-digit industries within US manufacturing. Results consistent across industries are
difficult to achieve by consideration of a wide range of alternative specifications and …
investment in fixed capital. A review of these … The second part of our review is devoted to
studies of investment behavior by industry groups within American manufacturing. In
reviewing these studies we concentrate on econometric models of investment behavior for
two-digit industries within US manufacturing. Results consistent across industries are
difficult to achieve by consideration of a wide range of alternative specifications and …
Denoting the actual level of capital by K and the desired level by K+, capital is adjusted toward its desired level by a constant proportion of the difference between desired and actual capital,
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