haku: @author Galeotti, M. / yhteensä: 3
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| Tekijä: | Galeotti, M. Schiantarelli, F. |
| Otsikko: | Generalized Q models for investment. (!Adjustment costs) |
| Lehti: | Review of Economics and Statistics
1991 : AUG, VOL. 73:3, p. 383-392 |
| Asiasana: | INVESTMENT |
| Kieli: | eng |
| Tiivistelmä: | The Q theory of investment is extended to allow for adjustment costs for labor, under the additional assumption that the firm is a monopolistic competitor in the output market. The issue of nonconstant returns to scale is also discussed. It is shown that the standard Q model is a special case of a more general model involving testable parameter restrictions. Estimates for the manufacturing sector in the USA suggest that the departure from the assumption of perfect competition and lack of adjustment costs for labor receive empirical support in the data. |
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