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Author: Mr.R. Gelos
Publisher: International Monetary Fund
ISBN: 1451847920
Category : Business & Economics
Languages : en
Pages : 36
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Book Description
This paper examines capital adjustment patterns using two large and largely novel data sets from the manufacturing sectors of Colombia and Mexico. The findings show that investment patterns in these countries resemble those reported for the United States to a surprising extent. Capital adjustments beyond maintenance investment occur only rarely, but large spikes account for a significant fraction of total investment. Although duration models do not provide strong evidence for the presence of substantial fixed costs, nonparametric adjustment function estimates reveal the presence of irreversibilities in investment. These irreversibilities are important for understanding aggregate investment behavior.
Author: Mr.R. Gelos
Publisher: International Monetary Fund
ISBN: 1451847920
Category : Business & Economics
Languages : en
Pages : 36
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Book Description
This paper examines capital adjustment patterns using two large and largely novel data sets from the manufacturing sectors of Colombia and Mexico. The findings show that investment patterns in these countries resemble those reported for the United States to a surprising extent. Capital adjustments beyond maintenance investment occur only rarely, but large spikes account for a significant fraction of total investment. Although duration models do not provide strong evidence for the presence of substantial fixed costs, nonparametric adjustment function estimates reveal the presence of irreversibilities in investment. These irreversibilities are important for understanding aggregate investment behavior.
Author: Thomas A. Bonart
Publisher:
ISBN:
Category : Capital investments
Languages : en
Pages : 122
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Book Description
Author: International monetary fund. Research departement
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author: Solomon Fabricant
Publisher:
ISBN:
Category : Capital
Languages : en
Pages : 304
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Book Description
Author: Gaston Gelos
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
We examine capital adjustment patterns using two large and largely novel plant-level data sets from the manufacturing sectors of Colombia and Mexico. The data suggest that irreversibilities play a more important role than in more advanced economies. However, we do not find support for the presence of increasing returns in the adjustment cost technology, such as arising from fixed costs. Firms go through periods of inaction and rarely sell capital, but they do not invest at discrete times only. An examinaion of the dynamic patterns of adjustment of factors differing in their flexibility supports this interpretation.
Author: Gaston Gelos
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Using two largely novel datasets, we examine how Colombian and Mexican plants invest in response to imbalances between actual and "desired" capital stock levels. Nonparametric estimates of the average adjustment function support the presence of irreversibilities, but not of nonconvexities.
Author: Murray F. Foss
Publisher: American Enterprise Institute Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 152
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Author: Solomon Fabricant
Publisher:
ISBN: 9781258543532
Category :
Languages : en
Pages : 288
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Book Description
Author: H. Kruiniger
Publisher:
ISBN:
Category :
Languages : en
Pages : 50
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Author: Murray F. Foss
Publisher: A E I Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 124
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Book Description
