Sectoral Fluctuations in U.K. Firms' Investment Expenditures

Mustafa Caglayan (), Neslihan Ozkan and Christopher Baum

No 2002_01, Working Papers from University of Liverpool, Department of Economics

Abstract: In this paper we empirically investigate whether sectoral business investment fluctuations in the U.K. are due to aggregate or sector-specific innovations. Using quarterly business investment data for ten industrial sectors over 1978-2000, we evaluate the nature of their intercorrelations by the use of vector autoregressive and factor analytic models. We find that both common and sector specific shocks have important effects in explaining sectoral comovements.

Keywords: Investment; Sectoral behavior; VAR; Factor analysis (search for similar items in EconPapers)
JEL-codes: C32 E22 E32 (search for similar items in EconPapers)
Date: 2002
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Journal Article: Sectoral fluctuations in U.K. firms' investment expenditures (2003)
Working Paper: Sectoral Fluctuations in U.K. Firms' Investment Expenditures (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:liv:livedp:2002_01

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