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Are procyclical lumpiness and asymmetry in capital adjustment dateless phenomena? the case of firms in German industrialization: 1880-1913

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  • B. Sussmuth

Abstract

Based on a descriptive, non-parametric methodology, this article examines lumpiness and investment episodes in the capital formation process of firms in German industrialization. The findings are, not as necessarily expected, remarkably concordant with recent findings for contemporary plant-level data.

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  • B. Sussmuth, 2003. "Are procyclical lumpiness and asymmetry in capital adjustment dateless phenomena? the case of firms in German industrialization: 1880-1913," Applied Economics Letters, Taylor & Francis Journals, vol. 10(9), pages 575-579.
  • Handle: RePEc:taf:apeclt:v:10:y:2003:i:9:p:575-579
    DOI: 10.1080/1350485032000100224
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    1. John Haltiwanger & Russell Cooper & Laura Power, 1999. "Machine Replacement and the Business Cycle: Lumps and Bumps," American Economic Review, American Economic Association, vol. 89(4), pages 921-946, September.
    2. Gaston Gelos, R. & Isgut, Alberto, 2001. "Irreversibilities in fixed capital adjustment: Evidence from Mexican and Colombian plants," Economics Letters, Elsevier, vol. 74(1), pages 85-89, December.
    3. Caroline Fohlin, 1998. "Relationship Banking, Liquidity, and Investment in the German Industrialization," Journal of Finance, American Finance Association, vol. 53(5), pages 1737-1758, October.
    4. 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.
    5. Steven J. Davis & John Haltiwanger, 1992. "Gross Job Creation, Gross Job Destruction, and Employment Reallocation," The Quarterly Journal of Economics, Oxford University Press, vol. 107(3), pages 819-863.
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