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The Investment Acceleration Principle Revisited by Means of a Neural Net

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Author Info

  • Guido Fioretti

    (University of Stuttgart and ICER)

Abstract

The investment acceleration principle is a heuristic for modeling investment time series out of consumption time series. The model presented herein develops a disaggregated accelerator equation whose coefficients are the weights of a Kohonen neural net that represents firms' decision-making. According to this model, investments take place when managers recognize emerging technological patterns. Furthermore, a technique borrowed from the theory of self-organizing systems is used in order to disentangle innovation-driven investments from plant- replication investments.

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File URL: http://128.118.178.162/eps/comp/papers/0207/0207002.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Computational Economics with number 0207002.

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Length: 20 pages
Date of creation: 18 Aug 2002
Date of revision:
Handle: RePEc:wpa:wuwpco:0207002

Note: Type of Document - PDF; pages: 20; figures: included. Author's homepage is at
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Web page: http://128.118.178.162

Related research

Keywords: Accelerator; Investment; Self-Organization; Neural Nets;

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References

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  1. Bronwyn H. Hall & Jacques Mairesse & Benoit Mulkay, 1998. "Firm-level investment in France an the United States: an exploration of what we have learned in twenty years," IFS Working Papers W98/10, Institute for Fiscal Studies.
  2. Arne Bigsten & Paul Collier & Stefan Dercon & Bernard Gauthier & Jan Willem Gunning & Anders Isaksson & Abena Oduro & Remco Oostendorp & Cathy Pattillo & Måns Söderbom & M. Sylvain & Francis Teal & , 1997. "Investment in Africa's manufacturing sector: A four country panel data analysis," CSAE Working Paper Series 1997-11, Centre for the Study of African Economies, University of Oxford.
  3. Lucas, Robert E, Jr, 1975. "An Equilibrium Model of the Business Cycle," Journal of Political Economy, University of Chicago Press, vol. 83(6), pages 1113-44, December.
  4. Bean, Charles R, 1981. "An Econometric Model of Manufacturing Investment in the UK," Economic Journal, Royal Economic Society, vol. 91(361), pages 106-21, March.
  5. Baxter, Marianne, 1996. "Are Consumer Durables Important for Business Cycles?," The Review of Economics and Statistics, MIT Press, vol. 78(1), pages 147-55, February.
  6. Kumaraswamy Velupillai, 1999. "Non-maximum Disequilibrium Macrodynamics," Economic Systems Research, Taylor & Francis Journals, vol. 11(2), pages 113-126.
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Cited by:
  1. Fioretti, Guido, 2007. "The production function," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 374(2), pages 707-714.
  2. Guido Fioretti, 2002. "Recognizing Investment Opportunities at the Onset of Recoveries," Macroeconomics 0207008, EconWPA.
  3. Guido Fioretti, 2005. "The Production Function," Papers physics/0511191, arXiv.org.

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