IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Log in (now much improved!) to save this article

Recognising investment opportunities at the onset of recoveries

  • Fioretti, Guido

Investment decision-making is modeled by means of a Kohonen neural net, where neurons represent firms. This is done in order to model investments in novel fields of economic activity, that according to this model are carried out when firms recognize the emergence of a new technological pattern. Combination of the equations of Kohonen model neuron with macroeconomic relationships yields disaggregated accelerator equations with flexible coefficients, that in the aggregate and fixed- coefficients case boil down to traditional accelerator equations. A simulation tests the model in a situation that is remindful of the very beginning of economic recoveries.

(This abstract was borrowed from another version of this item.)

If 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.

File URL: http://www.sciencedirect.com/science/article/pii/S1090-9443(06)00007-X
Download Restriction: Full text for ScienceDirect subscribers only

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Article provided by Elsevier in its journal Research in Economics.

Volume (Year): 60 (2006)
Issue (Month): 2 (June)
Pages: 69-84

as
in new window

Handle: RePEc:eee:reecon:v:60:y:2006:i:2:p:69-84
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622941

References listed on IDEAS
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.:

as in new window
  1. repec:adr:anecst:y:1999:i:55-56:p:02 is not listed on IDEAS
  2. Peter K. Clark, 1979. "Investment in the 1970s: Theory, Performance, and Prediction," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 10(1), pages 73-124.
  3. Jason Barr & Francesco Saraceno, 2005. "Modeling the Firm as an Artificial Neural Network," Working Papers Rutgers University, Newark 2005-011, Department of Economics, Rutgers University, Newark.
  4. Itzhak Gilboa & David Schmeidler, 1992. "Case-Based Decision Theory," Discussion Papers 994, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  5. Murat Yildizoglu, 2001. "Connecting adaptive behaviour and expectations in models of innovation: The Potential Role of Artificial Neural Networks," Working Papers 2001-2, Equipe Industries Innovation Institutions, Université Bordeaux IV, France.
  6. Kumaraswamy Velupillai, . "The Computable Approach to Economics," Working Papers _005, University of California at Los Angeles, Center for Computable Economics.
  7. Cho, In-Koo & Sargent, Thomas J., 1996. "Neural networks for encoding and adapting in dynamic economies," Handbook of Computational Economics, in: H. M. Amman & D. A. Kendrick & J. Rust (ed.), Handbook of Computational Economics, edition 1, volume 1, chapter 9, pages 441-470 Elsevier.
  8. Kumaraswamy Velupillai, 1999. "Non-maximum Disequilibrium Macrodynamics," Economic Systems Research, Taylor & Francis Journals, vol. 11(2), pages 113-126.
  9. 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.
  10. Jacques Mairesse & Bronwyn H. Hall & Benoit Mulkay, 1999. "Firm-Level Investment in France and the United States: An Exploration of What We Have Learned in Twenty Years," NBER Working Papers 7437, National Bureau of Economic Research, Inc.
  11. Bigsten, Arne, et al, 1999. " Investment in Africa's Manufacturing Sector: A Four Country Panel Data Analysis," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 61(4), pages 489-512, November.
  12. Barr, Jason & Saraceno, Francesco, 2002. "A computational theory of the firm," Journal of Economic Behavior & Organization, Elsevier, vol. 49(3), pages 345-361, November.
  13. Sourafel Girma, 2005. "Technology Transfer from Acquisition FDI and the Absorptive Capacity of Domestic Firms: An Empirical Investigation," Open Economies Review, Springer, vol. 16(2), pages 175-187, April.
  14. Sourafel Girma, 2003. "Absorptive capacity and productivity spillovers From FDI: a threshold regression analysis," European Economy Group Working Papers 25, European Economy Group.
  15. Lensink, Robert & Sterken, Elmer, 2000. "Capital Market Imperfections, Uncertainty and Corporate Investment in the Czech Republic," Economic Change and Restructuring, Springer, vol. 33(1-2), pages 53-70.
  16. Rachel Griffith & Stephen Redding & John Van Reenen, 2003. "R&D and absorptive capacity : theory and empirical evidence," LSE Research Online Documents on Economics 209, London School of Economics and Political Science, LSE Library.
  17. Sgroi, D., 2003. "Using Neural Networks to Model Bounded Rationality in Interactive Decision-Making," Cambridge Working Papers in Economics 0339, Faculty of Economics, University of Cambridge.
  18. Barr, Jason & Saraceno, Francesco, 2005. "Cournot competition, organization and learning," Journal of Economic Dynamics and Control, Elsevier, vol. 29(1-2), pages 277-295, January.
  19. Arrow, Kenneth J, 1969. "Classificatory Notes on the Production and Transmission of Technological Knowledge," American Economic Review, American Economic Association, vol. 59(2), pages 29-35, May.
  20. Daron Acemoglu, 1992. "Learning about Others Actions and the Investment Accelerator," CEP Discussion Papers dp0072, Centre for Economic Performance, LSE.
  21. 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.
  22. 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.
  23. Krishna Rao Akkina & Mehmet Ali Celebi, 2002. "The Determinants of Private Fixed Investment and the Relationship between Public and Private Capital Accumulation in Turkey," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 41(3), pages 243-254.
  24. Itzhak Gilboa & David Schmeidler, 1993. "Case-Based Optimization," Discussion Papers 1039, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  25. Rubinstein, Ariel, 1993. "On Price Recognition and Computational Complexity in a Monopolistic Model," Journal of Political Economy, University of Chicago Press, vol. 101(3), pages 473-84, June.
  26. Sargent, Thomas J, 1989. "Two Models of Measurements and the Investment Accelerator," Journal of Political Economy, University of Chicago Press, vol. 97(2), pages 251-87, April.
  27. Abramovitz, Moses, 1986. "Catching Up, Forging Ahead, and Falling Behind," The Journal of Economic History, Cambridge University Press, vol. 46(02), pages 385-406, June.
  28. Itzhak Gilboa & David Schmeidler, 1994. "Act-Similarity in Case-Based Decision Theory," Discussion Papers 1081, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  29. Guido Fioretti, 2002. "The Investment Acceleration Principle Revisited by Means of a Neural Net," Computational Economics 0207002, EconWPA.
  30. Richard Kneller, 2005. "Frontier Technology, Absorptive Capacity and Distance," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 67(1), pages 1-23, 02.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:eee:reecon:v:60:y:2006:i:2:p:69-84. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Shamier, Wendy)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.