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The USe of Adjustment Cost Investment Models in Intertemporal Computable General Equilibrium Models

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  • McLaren, Keith

Abstract

Wilcoxen (1989) introduced a paradigm whereby the shadow price of capital that characterises the solution to an intertemporal cost of adjustment investment model is used to provide the explicit dynamic linkages for sequences of computable general equilibrium models. This paper investigates the possible specification of adjustment cost investment models which are considered useful for such an approach, and considers possible approaches to the estimation of the parameters of such models.

Suggested Citation

  • McLaren, Keith, 1991. "The USe of Adjustment Cost Investment Models in Intertemporal Computable General Equilibrium Models," Impact Project Archive 295064, Impact Research Centre, University of Melbourne.
    • Handle: RePEc:ags:ircipa:295064
    DOI: 10.22004/ag.econ.295064
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