As large physical capital stock projects need long periods to be built, a time-to-build specification is incorporated in factor demand models. Time-to-build and adjustment costs dynamics are identified since by the first moving average dynamics, whereas by the latter autoregressive dynamics are induced. Empirical evidence for time-to-build is obtained from data from the Dutch construction industry and by the estimation result from the manufacturing industry of six OECD countries.
| ISBN-13: | 9783540588092 |
| ISBN-10: | 3540588094 |
| Publisher: | Springer |
| Publication date: | 1992-10-08 |
| Edition description: | 1 |
| Pages: | 351 |
| Product dimensions: | Height: 9.55 Inches, Length: 7.51 Inches, Weight: 1.93565866036 Pounds, Width: 0.91 Inches |
| Author: | James D. Lyle |
| Language: | en |
| Binding: | Hardcover |
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