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Time-To-Build Interrelated Investment and Labour Demand Modelling With Applications to Six OECD Countries
Titre:
Time-To-Build Interrelated Investment and Labour Demand Modelling With Applications to Six OECD Countries
ISBN (Numéro international normalisé des livres):
9783642468155
Auteur personnel:
Edition:
1st ed. 1995.
PRODUCTION_INFO:
Berlin, Heidelberg : Springer Berlin Heidelberg : Imprint: Springer, 1995.
Description physique:
IX, 204 p. online resource.
Collections:
Lecture Notes in Economics and Mathematical Systems, 420
Table des matières:
0 Overview -- 0.1 Introduction -- 0.2 Main research aims -- 0.3 Outline -- 1 Physical Capital Stock Investments and Labour Demand, Theoretical background on dynamic modelling -- 1.1 Introduction -- 1.2 Entrepreneurial behaviour -- 1.3 Entrepreneurial behaviour under neoclassical assumptions -- 1.4 Dynamics and the literature -- 1.5 Short summary and extensions -- 1.A Dynamics and interrelation in structures, equipment and labour in six OECD countries -- 2 Investment Gestation Lags, Construction lags, delivery lags and capital stock accumulation -- 2.1 Introduction -- 2.2 Construction lags -- 2.3 Time-to-build specification -- 2.4 The difference between construction and delivery lags -- 2.5 Statistical evidence on lead times -- 2.6 The calculation of physical capital stock series -- 2.7 Summary and conclusions -- 3 A Closed form Solution for a Model with Time-to-Build and Adjustment Costs, An application to the United States and Dutch manufacturing industry -- 3.1 Introduction -- 3.2 The model -- 3.3 Three univariate models for structures -- 3.4 The closed form solution of the trivariate model -- 3.5 Summary of the theoretical part and estimation aims -- 3.6 The estimation results -- 3.7 Summary and conclusions -- Appendices -- 3.A Solving the Euler equations of the multivariate model for the rational expectations -- 3.B Stationarity tests -- 4 Persistence, Asymmetries and Interrelation in Manufacturing Structures, Equipment and Labour Demand, An application to six OECD countries -- 4.1 Introduction -- 4.2 Descriptive statistics -- 4.3 A neoclassical factor demand model -- 4.4 Empirical analyses -- 4.5 Summary and conclusions -- 4.A Factor prices exogeneity, monopolistic competition or price influencing -- 5 Interrelations in Physical Capital Stock, Labour and Inventory Investments, An application to French industrial sectors -- 5.1 Introduction -- 5.2 Volatility and multi-cointegration -- 5.3 Two structural models with inventories -- 5.4 Empirical results -- 5.5 Conclusions -- 6 Summary, Conclusions and Shortcomings -- 6.1 Summary -- 6.2 Conclusions from empirical results -- 6.3 Shortcomings -- 6.4 Overall conclusions and some policy implications -- Data Appendix, Quarterly aggregate data -- I.1 Data sources -- I.2 Aggregate manufacturing industry data of six OECD countries -- I.2.1 Variables used as production factors and prices in chapter 3 and 4 -- I.2.2 Data description -- I.2.3 Variables used as instruments in chapter 4 -- I.3 Aggregate sectorial data of France (1970.I-1992.IV) -- I.3.1 Variables used -- I.3.2 Data description -- I.3.3 Calculation of physical capital stock series -- Author Index -- List of Symbols.
Extrait:
As large physical capital stock projects need long periods to be built, a time-to-build specification is incorporated in factor demand models. Time-to-build and adjustment costs dynamics are identified since by the first moving average dynamics, whereas by the latter autoregressive dynamics are induced. Empirical evidence for time-to-build is obtained from data from the Dutch construction industry and by the estimation result from the manufacturing industry of six OECD countries.
Auteur collectif ajouté:
Langue:
Anglais