Testing the Long Run Effect of Investment on Output in the Presence of Cointegration
AbstractA major empirical interest is whether a permanent change in economic fundamentals produces a growth effect. However, a direct time series analysis of this hypothesis may not always be feasible due to a lack of such events. This paper explains why a test regarding the long run effect of a temporary change in investment share may, under appropriate conditions, provide indirectly the answer regarding the effect of a (possibly hypothetical) permanent change in investment share.
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Bibliographic InfoPaper provided by Australian National University - Department of Economics in its series Papers with number 304.
Length: 30 pages
Date of creation: 1996
Date of revision:
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Postal: THE AUSTRALIAN NATIONAL UNIVERSITY, DEPARTMENT OF ECONOMICS, RESEARCH SCHOOL of PACIFIC STUDIES, RESEARCH SCHOOL OF SOCIAL SCIENCES, G.P.O. 4, CANBERRA ACT 2601 AUSTRALIA..O. BOX 4 CANBERRA 2601 AUSTRALIA.
Web page: http://economics.anu.edu.au/economics.htm
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