Asymmetries in Private Sector Investment: An Empirical Investigation

R. Arden, Sean Holly () and Paul Turner ()

Cambridge Working Papers in Economics from Faculty of Economics, University of Cambridge

Abstract: This paper is concerned with the estimation and simulation of a model of aggregate private sector non-residential investment. Its interest in investment centres on two main issues: the first is the role of the equity market in the transmission mechanism, while the second is the possibility of asymmetric responses of investment to business cycle fluctuations. Evidence is found that both these factors are important.

Date: Written 1997-07

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