Investment and Growth in Europe and in the United States in the Nineties
AbstractThe paper analyzes the sharp divergence between capital formation in the leading euro-area countries and the United States in the nineties. We estimate an investment function at the sectoral level and find evidence of a break in the coefficient linking the growth of capital stock to demand in both the euro-area and Anglo-Saxon countries, but of opposite sign: while it declined in the former, it increased in the latter. This result is partly attributable to a rise in demand uncertainty in Europe and to a decrease in the Anglo-Saxon countries in the nineties.
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Bibliographic InfoArticle provided by SIPI Spa in its journal Rivista di Politica Economica.
Volume (Year): 91 (2001)
Issue (Month): 8 (October)
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- Paola Caselli & Patrizio Pagano & Fabiano Schivardi, 2000. "Investment and Growth in Europe and in the United States in the Nineties," Temi di discussione (Economic working papers) 372, Bank of Italy, Economic Research and International Relations Area.
- Caselli, P. & Pagano, P. & Schivardi, F., 2000. "Investment and Growth in Europe and in the United States in the Nineties," Papers 372, Banca Italia - Servizio di Studi.
- L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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- Luigi Bonatti, 2004. "Fiscal transfers and distributive conflict in a simple endogenous growth model with unemployment," Working Papers 0401, University of Bergamo, Department of Economics.
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