Is the real price of equipment a good measure for investment-specific technological change?

Kwang Hwan Kim

Economics Letters, 2010, vol. 108, issue 3, 311-313

Abstract: This paper shows that the real price of equipment is significantly affected by other shocks orthogonal to investment-specific technology shock. This finding questions the use of the real price of equipment as a measure of investment-specific technology shock.

Keywords: Investment-specific; technology; shock; Real; price; of; equipment; Structural; VAR (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:108:y:2010:i:3:p:311-313

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