Investment Rates and the Aggregate Production Function
AbstractIn this paper we consider a simple version of the neoclassical growth model, and carry out an empirical analysis of the main determinants of aggregate investment across countries. More speciﬁcally, we study the eﬀects on aggregate investment of income growth, capital income shares, the relative price of capital, and various market distortions. This exercise also sheds light into the shape of the neoclassical production function. We check these investment patterns for both OECD and non-OECD countries. We also decompose investment data into equipment and structures, and explore major factors aﬀecting their relative prices
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Bibliographic InfoPaper provided by University of Miami, Department of Economics in its series Working Papers with number 2011-3.
Length: 36 pages
Date of creation: 2011
Date of revision:
Publication status: Forthcoming: Working
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Web page: http://www.bus.miami.edu/faculty-and-research/academic-departments/economics/index.html
More information through EDIRC
Investment rates; Aggregate production function; Relative price of investment;
Find related papers by JEL classification:
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-04-30 (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.:
- Garcia-Belenguer, Fernando, 2007. "Stability, global dynamics and Markov equilibrium in models of endogenous economic growth," Journal of Economic Theory, Elsevier, vol. 136(1), pages 392-416, September.
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