Plant-level adjustment and aggregate investment dynamics
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1995Metadata
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Caballero, Ricardo J.
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Plant-level adjustment and aggregate investment dynamics
Abstract
THE EMPIRICAL INVESTMENT literature is full of disappointments. From
time to time waves of new ideas challenge the aggregate investment
equation, but these challenges are rarely successful, and progress is, at
best, slow. There are serious theoretical obstacles, stemming mostly
from the richness of the cross-sectional and time-series scenarios faced
by actual investors, from the complexity of the investment technologies
available to them, and from the myriad incentive problems that these
economic agents face. There are at least as complex, and perhaps insurmountable,
data problems. Both right- and left-hand side variables
are seldom measuredp roperly.
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Eduardo Engel acknowledges financial support from FONDECYT (Chile) grant 195-520
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Artículo de publicación ISI Artículo de publicación SCOPUS
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URI: https://repositorio.uchile.cl/handle/2250/151184
DOI: 10.2307/2534611
ISSN: 0007-2303
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Brookings Papers on Economic Activity, Vol. 1995, No. 2 (1995), pp. 1-54
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