Two Cheers for the Aggregated (S, s) Model!
AbstractAggregated (S;s) models purport to provide a structural, microfounded and statistically robust explanation of aggregate investment uctuations. In this paper I analyse these claims, present several empirical puzzles arising from the model and discuss hoe the model might be extended to account for these puzzles.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Edinburgh School of Economics, University of Edinburgh in its series ESE Discussion Papers with number 56.
Date of creation: Apr 2004
Date of revision:
Economic Fluctuations; Investment; Factor Demand; Aggregated (S; s) rules; Model Specification;
Find related papers by JEL classification:
- C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
- E22 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-04-25 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Eberly, Janice C, 1994.
"Adjustment of Consumers' Durables Stocks: Evidence from Automobile Purchases,"
Journal of Political Economy,
University of Chicago Press, vol. 102(3), pages 403-36, June.
- Janice C. Eberly, . "Adjustment of Consumers' Durables Stocks: Evidence from Automobile Purchases," Rodney L. White Center for Financial Research Working Papers 22-91, Wharton School Rodney L. White Center for Financial Research.
- Eberly, J.C., 1990. "Adjustment of Consumers'durables Stocks: Evidence from Automobile Purchases," Weiss Center Working Papers 22-91, Wharton School - Weiss Center for International Financial Research.
- repec:fth:coluec:465 is not listed on IDEAS
- Jorgenson, D.W., 1994.
"Empirical Studies of Depriciation,"
Harvard Institute of Economic Research Working Papers
1704, Harvard - Institute of Economic Research.
- Mark E. Doms & Timothy Dunne, 1998.
"Capital Adjustment Patterns in Manufacturing Plants,"
Review of Economic Dynamics,
Elsevier for the Society for Economic Dynamics, vol. 1(2), pages 409-429, April.
- Mark Doms & Timothy Dunne, 1994. "Capital Adjustment Patterns in Manufacturing Plants," Working Papers 94-11, Center for Economic Studies, U.S. Census Bureau.
- Daniel S. Hamermesh & Gerard A. Pfann, 1996.
"Adjustment Costs in Factor Demand,"
Journal of Economic Literature,
American Economic Association, vol. 34(3), pages 1264-1292, September.
- Ricardo J. Caballero & Eduardo M. R. A. Engel & John C. Haltiwanger, 1995. "Plant-Level Adjustment and Aggregate Investment Dynamics," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(2), pages 1-54.
- Erik Hurst & Christopher Foote & John Leahy, 2000. "Testing the (S, s) Model," American Economic Review, American Economic Association, vol. 90(2), pages 116-119, May.
- Randal Verbrugge Randal Verbrugge, 1997. "Investigating Cyclical Asymmetries," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 2(1), pages 1-10, April.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Gina Reddie).
If references are entirely missing, you can add them using this form.