The USe of Adjustment Cost Investment Models in Intertemporal Computable General Equilibrium Models

Keith McLaren

No 295064, Impact Project Archive from Impact Research Centre, University of Melbourne

Abstract: Wilcoxen (1989) introduced a paradigm whereby the shadow price of capital that characterises the solution to an intertemporal cost of adjustment investment model is used to provide the explicit dynamic linkages for sequences of computable general equilibrium models. This paper investigates the possible specification of adjustment cost investment models which are considered useful for such an approach, and considers possible approaches to the estimation of the parameters of such models.

Keywords: Research; Methods/Statistical; Methods (search for similar items in EconPapers)
Pages: 57
Date: 1991-03
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Persistent link: https://EconPapers.repec.org/RePEc:ags:ircipa:295064

DOI: 10.22004/ag.econ.295064

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