The decline in investment shares is not caused by falling relative prices of capital: a note
Empirica, 2019, vol. 46, issue 2, No 7, 369-380
Abstract Secularly declining GDP investment shares are often explained by the widespread fall in the relative price of investment goods. Granger non-causality tests applied to longer-term time series for a large number of industrial countries tend to reject that explanation.
Keywords: Relative prices of capital; Investment shares; Secular stagnation; Granger causality (search for similar items in EconPapers)
JEL-codes: E22 O11 C32 (search for similar items in EconPapers)
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