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| Author: | Doms, M. Dunne, T. |
| Title: | Capital adjustment patterns in manufacturing plants |
| Journal: | Review of Economic Dynamics
1998 : APR, VOL. 1:2, p. 409-429 |
| Index terms: | ECONOMIC DYNAMICS CAPITAL MANUFACTURING INDUSTRY |
| Language: | eng |
| Abstract: | A common result from altering several fundamental assumptions of the neoclassical investment model with convex adjustment costs is that investment may occur in lumpy episodes. This paper takes a step back and asks "How lumpy is investment?" The authors answer this question by documenting the distributions of investment and capital adjustment for a sample of 13.700 manufacturing plants drawn from over 300 four-digit industries. |
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