The accelerator's debt to simultaneity: a demonstration on French data

Adam Bennett

Revue Économique, 1989, vol. 40, issue 1, 81-88

Abstract: [fre] The accelerator's debt to simultaneity : a demonstration on French data. . La version empirique du modèle de l'accélérateur domine presque tous les autres modèles du comportement de l'investissement dans le monde entier. Cette étude met à l'épreuve ce modèle sur la base de données françaises et soutient que la supériorité empirique de ce modèle est spécieuse, résultant en grande partie du biais des équations simultanées. Comme alternative, il est démontré qu'un modèle basé sur le revenu des entreprises retrace les données au moins aussi bien une fois ce biais corrigé. [eng] The accelerator's debt to simultaneity : a demonstration on french data. . The accelerator model of investment in its empirical formulation dominates nearly all other models of investment behaviour throughout the world. This paper examines this model in the context of French data and contends that the empirical superiority is spurious, being largely related to simultaneous equation bias. As an alternative, an income based model is shown to be at least as creditable a description of the data once scope for this bias is removed.

Date: 1989
Note: DOI:10.3406/reco.1989.409131
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