MARC details
| 000 -CABECERA |
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| Longitud fija campo de control |
03983cam a22003377 4500 |
| 001 - NÚMERO DE CONTROL |
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| Número de control |
w1426 |
| 003 - IDENTIFICADOR DELl NÚMERO DE CONTROL |
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| Identificador del número de control |
NBER |
| 005 - FECHA Y HORA DE LA ÚLTIMA TRANSACCIÓN |
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| Fecha y hora de la última transacción |
20211020115231.0 |
| 006 - CÓDIGOS DE INFORMACIÓN DE LONGITUD FIJA - CARACTERÍSTICAS DEL MATERIAL ADICIONAL |
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| Códigos de información de longitud fija - Características del material adicional |
m o d |
| 007 - CAMPO FIJO DE DESCRIPCIÓN FÍSICA |
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| Campo fijo de descripción física |
cr cnu|||||||| |
| 008 - CÓDIGOS DE INFORMACIÓN DE LONGITUD FIJA |
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| Códigos de información de longitud fija |
210910s1984 mau fo 000 0 eng d |
| 100 1# - PUNTO DE ACCESO PRINCIPAL-NOMBRE DE PERSONA |
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| Nombre de persona |
<a href="Gordon, Robert J.">Gordon, Robert J.</a> |
| 245 10 - TÍTULO PROPIAMENTE DICHO |
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| Título |
Fixed Investment in the American Business Cycle, 1919-83 / |
| Mención de responsabilidad, etc. |
Robert J. Gordon, John M. Veitch. |
| 260 ## - PUBLICACIÓN, DISTRIBUCIÓN, ETC. (PIE DE IMPRENTA) |
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| Lugar de publicación, distribución, etc. |
Cambridge, Mass. |
| Nombre del editor, distribuidor, etc. |
National Bureau of Economic Research |
| Fecha de publicación, distribución, etc. |
1984. |
| 300 ## - DESCRIPCIÓN FÍSICA |
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| Extensión |
1 online resource: |
| Otras características físicas |
illustrations (black and white); |
| 490 1# - MENCIÓN DE SERIE |
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| Mención de serie |
NBER working paper series |
| Designación de volumen o secuencia |
no. w1426 |
| 500 ## - NOTA GENERAL |
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| Nota general |
August 1984. |
| 520 3# - NOTA DE SUMARIO |
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| Sumario, etc, |
Contributions are made by this paper in three areas, methodological, data creation, and empirical. The methodological section finds that, while structural model building exercises may be useful in suggesting lists of variables that may play an explanatory role in investment equations, they generally achieve identification of structural parameters only by imposing arbitrary and unbelievable simplifying assumptions and exclusion restrictions.The paper advocates a hybrid methodology combining guidance from traditional structural models on the choice and form of explanatory variables to be included, with estimation in a reduced-form format that introduces all explanatory variables and the lagged dependent variable with the same number of unconstrained lag coefficients. The second contribution is the use of a new set of quarterly data for major expenditure categories of GNP extending back to 1919. The data file also contains quarterly data back to 1919 for other variables, including the capital stock, interest rates, the cost of capital including tax incentive effects, a proxy for Tobin's "Q", and the real money supply.The empirical results support the view that there are two basic impulses in the business cycle, real and financial.The real impulse appears in our statistical evidence as an autonomous innovation to investment in structures. We interpret these structures innovations as due in turn to changes in the rate of population growth, episodes of speculation and overbuilding, and Schumpeterian waves of innovation.The financial impulse works through the effect on investment of changes in the money supply, as well as the real interest rate (in the case of postwar investment in durable equipment).There is a strong role for the money supply as a determinant of investment behavior, relative to such other factors as the user cost of capital or Tobin's "Q". The role of the money supply is interpreted as primarily reflecting the banking contraction of 1929-33 and the episodes of credit crunches and disintermediation in the postwar years. Another feature of the empirical work is the attention paid to aggregation. Coefficient estimates are more stable when four types of investment expenditures are aggregated along the structures-equipment dimension than along the household-business dimension. Historical decompositions highlight the role of autonomous innovations in structures investment and in the money supply, and an inspection of residuals suggests that the main autonomous downward shift in spending in 1929-30 was in fixed investment, not nondurable consumption. |
| 530 ## - NOTA DE FORMATO FÍSICO ADICIONAL DISPONIBLE |
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| Nota de formato físico adicional disponible |
Hardcopy version available to institutional subscribers |
| 538 ## - NOTA DE DETALLES DEL SISITEMA |
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| Nota de detalles del sistema |
System requirements: Adobe [Acrobat] Reader required for PDF files. |
| 538 ## - NOTA DE DETALLES DEL SISITEMA |
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| Nota de detalles del sistema |
Mode of access: World Wide Web. |
| 588 0# - NOTA DE FUENTE DE LA DESCRIPCIÓN |
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| Nota de fuente de la descripción |
Print version record |
| 690 #7 - CAMPOS LOCALES DE ENCABEZAMIENTO DE MATERIA |
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| Término local o nombre geográfico como elemento de entrada |
E - Macroeconomics and Monetary Economics |
| Fuente de encabezamiento o término |
Journal of Economic Literature class. |
| 690 #7 - CAMPOS LOCALES DE ENCABEZAMIENTO DE MATERIA |
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| Término local o nombre geográfico como elemento de entrada |
C - Mathematical and Quantitative Methods |
| Fuente de encabezamiento o término |
Journal of Economic Literature class. |
| 700 1# - PUNTO DE ACCESO ADICIONAL - NOMBRE DE PERSONA |
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| Nombre de persona |
Veitch, John M. |
| 710 2# - PUNTO DE ACCESO ADICIONAL - NOMBRE DE ENTIDAD |
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| Nombre de entidad o nombre de jurisdicción como elemento inicial |
National Bureau of Economic Research. |
| 830 #0 - PUNTO DE ACCESO ADICIONAL DE SERIE - TÍTULO UNIFORME |
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| Título uniforme |
Working Paper Series (National Bureau of Economic Research) |
| Designación de volumen o secuencia |
no. w1426. |
| 856 40 - LOCALIZACIÓN Y ACCESO ELECTRÓNICO |
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| Identificador Uniforme del Recurso (URI) |
<a href="https://www.nber.org/papers/w1426">https://www.nber.org/papers/w1426</a> |
| 856 ## - LOCALIZACIÓN Y ACCESO ELECTRÓNICO |
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| Texto del enlace |
Acceso en línea al DOI |
| Identificador Uniforme del Recurso (URI) |
<a href="http://dx.doi.org/10.3386/w1426">http://dx.doi.org/10.3386/w1426</a> |
| 942 ## - ENTRADA DE ELEMENTOS AGREGADOS (KOHA) |
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| Fuente de clasificaión o esquema |
Dewey Decimal Classification |
| Koha [por defecto] tipo de item |
Working Paper |
