Data and Code for: Obsolescence of Capital and Investment Spikes
收藏DataCite Commons2024-12-16 更新2025-04-16 收录
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https://www.openicpsr.org/openicpsr/project/119984/version/V1/view?path=/openicpsr/119984/fcr:versions/V1/Data-and-code/CUMMINS-VIOLANTE-DATA.xls&type=file
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资源简介：
The prospect of capital obsolescence inhibits investment. Investors thus become more optimistic when the obsolescence of their capital slows down. We propose a model with no fixed costs of investment, and random technological progress that induces obsolescence of capital in place. Spikes occur precisely when technological progress slows down. Moreover, the more variable the progress, the larger are the spikes. Cross-industry data show that where price of capital declines are more variable, investment spikes are larger.
提供机构：
ICPSR - Interuniversity Consortium for Political and Social Research
创建时间：
2024-12-16
