| 来源类型 | FEEM working papers "Note di lavoro" series |
| 规范类型 | 论文 |
| Non-convexities in the Adjustment of Different Capital Inputs: A Firm-level Investigation | |
| Marzio Galeotti; Alessandra Del Boca; Paola Rota | |
| 发表日期 | 2003 |
| 出处 | Economy and Society |
| 出版年 | 2003 |
| 语种 | 英语 |
| 摘要 | Recent developments in investment research have highlighted the importance of non-convexities and irreversibilities in the firms' adjustment of quasi-fixed inputs. However, aggregation across capital goods may smooth out the discontinuities associated with the adjustment of individual assets. The lack of suitable data is one of the reasons why empirical work has strongly relied on the assumption of capital homogeneity. In this paper we exploit a new data set of 1539 Italian firms which allows us to disaggregate capital and consider separately purchases and sales of assets. We disaggregate between equipment and structures and construct measures of fundamental Q to capture investment opportunities associated with each asset. To uncover the pattern of dynamic adjustment we use non-parametric techniques to relate each individual investment to own fundamental Q. |
| 特色分类 | D24,G31,C33,C34 |
| 关键词 | Investment,heterogenous capital,non-convexities,fundamental Q,panel data |
| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/non-convexities-in-the-adjustment-of-different-capital-inputs-a-firm-level-investigation/ |
| 来源智库 | Fondazione Eni Enrico Mattei (Italy) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/116863 |
| 推荐引用方式 GB/T 7714 | Marzio Galeotti,Alessandra Del Boca,Paola Rota. Non-convexities in the Adjustment of Different Capital Inputs: A Firm-level Investigation. 2003. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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