Revisiting the accelerator principle in a world of uncertainty: Some empirical evidence
| Autor: | Ana Rosa Gonzalez-Martinez, Philip Arestis |
|---|---|
| Přispěvatelé: | Arestis, Philip [0000-0001-8729-4846], Apollo - University of Cambridge Repository |
| Jazyk: | angličtina |
| Rok vydání: | 2016 |
| Předmět: |
Economics and Econometrics
050208 finance Investment strategy Financial economics Accelerator effect 05 social sciences Gross private domestic investment Uncertainty Accelerator Investment (macroeconomics) Return on investment 0502 economics and business Economics 050207 economics Investment function Investment Open-ended investment company Investment performance Panel data |
| Popis: | This contribution builds on the accelerator model to produce an investment function in which employment and households' investment are used as proxies for economic activity. This analysis identifies a positive correlation between corporate investment in fixed assets and households' investment in dwellings. Using a panel of 11 OECD countries for the period 1970–2010, the results also confirm that oil prices and interest rates may dampen firms' investment in fixed assets. An interesting feature of this investment function is that it accounts for uncertainty. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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