Uncertainty and Investment : Some Evidence from the Panel Data of Japanese Manufacturing Firms
AbstractWe analyse empirically the effect of uncertainty on fixed investment by estimating an accelerator-type investment function based on a panel data set of the Hapanese manufacturing firms. The uncertainty measure, represented by the conditional standard deviation of the sales ghrowth rate, is constructed by employing three different statistical models : the rolling regressions model, the ARCH model, and the conventional formula of standard deviation.
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Bibliographic InfoPaper provided by Institute of Social and Economic Research, Osaka University in its series ISER Discussion Paper with number 0436.
Length: 38 pages
Date of creation: 1997
Date of revision:
UNCERTAINTY ; INVESTMENTS ; JAPAN;
Other versions of this item:
- Kazuo Ogawa & Kazuyuki Suzuki, 2000. "Uncertainty and Investment: Some Evidence from the Panel Data of Japanese Manufacturing Firms," The Japanese Economic Review, Japanese Economic Association, vol. 51(2), pages 170-192, 06.
- D92 - Microeconomics - - Intertemporal Choice - - - Intertemporal Firm Choice, Investment, Capacity, and Financing
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