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Un panorama des développements récents de l'économétrie de l'investissement

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  • Patrick Artus
  • Pierre-Alain Muet

Abstract

[eng] A survey of recent developments in the econometrics of investment. Patrick Artus, Pierre-Alain Muet. This paper analyses the recent theoretical developments in the modelling of investment demand as well as the main lessons drawn from econometric estimation undertaken in France during recent years.. The first section presents the « theoretical foundation » of the usual equations using a two-period optimization model ; this allows an integration of both the « explicit » approach (taking into account the constraint anticipated by the firms on different markets), and the « implicit » approach (Tobin's q).. The second section compares the main econometric estimates, analysing the effects on investment of the growth of demand, of factor costs and financial conditions. [fre] Cet article analyse les développements théoriques récents de la modélisation de la demande d'investissement, ainsi que les principaux enseignements tirés des estimations économétriques réalisées ces dernières années en France.. La première partie propose une présentation des fondements théoriques des équa­tions usuelles, en utilisant un modèle d'optimisation à deux périodes qui permet d'intégrer à la fois l'approche explicite fondée sur la prise en compte des contraintes anticipées par les entreprises sur les différents marchés et l'approche implicite (q de Tobin).. La seconde partie compare les principales estimations économétriques, en analysant l'impact de la croissance, du coût des facteurs et des conditions de financement sur l'investissement.

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  • Patrick Artus & Pierre-Alain Muet, 1984. "Un panorama des développements récents de l'économétrie de l'investissement," Revue Économique, Programme National Persée, vol. 35(5), pages 791-830.
    • Handle: RePEc:prs:reveco:reco_0035-2764_1984_num_35_5_408808
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    1. Pierre-Alain Muet & Sanvi Avouyi-Dovi, 1987. "L'effet des incitations fiscales sur l'investissement," Revue de l'OFCE, Programme National Persée, vol. 18(1), pages 149-174.
    2. Bruno Théret & Didier Uri, 1988. "La courbe de Laffer dix ans après : un essai de bilan critique," Revue Économique, Programme National Persée, vol. 39(4), pages 753-808.
    3. Marcel Gérard & Frédéric Verscueren, 2002. "Finance, uncertainty and investment: assessing the gains and losses of a generalized non linear structural approach using Belgian panel data," Working Paper Research 26, National Bank of Belgium.
    4. Alain Gubian & François Guillaumat-Tailliet & Jacques Le Cacheux, 1986. "Fiscalité des entreprises et décision d'investissement. Eléments de comparaison internationale France, RFA, Etats-Unis," Revue de l'OFCE, Programme National Persée, vol. 16(1), pages 181-216.

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