THE IRRELEVANCE OF ADJUSTMENT COSTS FOR INVESTMENT DETERMINATION

Authors
SUMNER M
Citation
M. Sumner, THE IRRELEVANCE OF ADJUSTMENT COSTS FOR INVESTMENT DETERMINATION, Applied economics letters, 3(2), 1996, pp. 125-126
Citations number
9
Categorie Soggetti
Economics
Journal title
Applied economics letters → ACNP
ISSN journal
13504851
Volume
3
Issue
2
Year of publication
1996
Pages
125 - 126
Database
ISI
SICI code
1350-4851(1996)3:2<125:TIOACF>2.0.ZU;2-D
Abstract
The seasonal pattern of investment, and its relation with output, rule out convex adjustment costs as an explanation of the distributed lag in response of investment to its determinants.