Time-To-Build: Interrelated Investment and Labour Demand Modelling With Applications to Six OECD Countries
Marga Peeters
Dec 2012 · Lecture Notes in Economics and Mathematical Systems Book 420 · Springer Science & Business Media
Ebook
204
Pages
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About this ebook
As large physical capital stock projects need long periods to be built, a time-to-build specification is incorporated in factor demand models. Time-to-build and adjustment costs dynamics are identified since by the first moving average dynamics, whereas by the latter autoregressive dynamics are induced. Empirical evidence for time-to-build is obtained from data from the Dutch construction industry and by the estimation result from the manufacturing industry of six OECD countries.
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