haku: @indexterm Service industries / yhteensä: 657
viite: 22 / 657
| Tekijä: | Groth, C. |
| Otsikko: | Quantifying UK capital adjustment costs |
| Lehti: | Economica
2008 : MAY, VOL. 75:298, p. 310-325 |
| Asiasana: | accounting capital investment service industries United Kingdom USA |
| Kieli: | eng |
| Tiivistelmä: | Based on manufacturing and service industry data from 1970 to 2000, this paper estimates U.K. capital adjustment costs (here as: a-cts). There is found evidence of significant a-cts., with a 1 percent increase in investment reducing value added by 0.05 percent. This implies an elasticity of investment as to Tobin's q of 2.5, and a convergence time for capital of 12 years. A-cts. are suggested to have caused half of the slowdown in U.K. total factor productivity (TFP) growth during the 2nd half of the 1990s. |
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