Uncertainty and the slowdown of capital accumulation in Europe

Applied Economics

Volumn 35, Issue 1, 2003, Pages 79-89

  Caselli, Paola ^a   Pagano, Patrizio ^a   Schivardi, Fabiano ^a  

^a BANK OF ITALY   (Italy)

Author keywords

[No Author keywords available]

Indexed keywords

CAPITAL MARKET; ECONOMIC CONDITIONS; ECONOMIC GROWTH; INVESTMENT;

EUROPE;

EID: 0037428267     PISSN: 00036846     EISSN: None     Source Type: Journal    
DOI: 10.1080/00036840210158958     Document Type: Article

References (17)

1. Abel, A. and Eberly, J. (1996) Optimal investment with costly reversibility, Review of Economic Studies, 63, 581-93.
2. Arellano, M. and Bond, S. R. (1999) Dynamic panel data estimation using DPD98 for Gauss, mimeo.
3. Arellano, M. and Bover, O. (1995) Another look at the instrumental-variable estimation of error component models, Journal of Econometrics, 68, 29-59.
4. Bloom, N., Bond, S. R. and Van Reenen, J. (2000) The dynamics of investment under uncertainty, IFS Working Paper Series, No. W99/5.
5. Blundell, R. and Bond, S. R. (1998) Initial conditions and moment restrictions in dynamic panel data models, Journal of Econometrics, 87, 115-43.
6. Bond, S. R., Harhoff, D. and Van Reenen, J. (1999) Investment, R&D and financial constraint in Britain and Germany, IFS Working Paper W99/05.
7. Caballero, R. J. and Engel, E. M. (1999) Explaining investment dynamics in US manufacturing: a generalized (S, s) approach, Econometrica, 67, 783-826.
8. Caselli, P., Pagano, P. and Schivardi, F. (2000) Investment and growth in Europe and in the USA in the nineties, Temi di Discussione no. 372, available at http://www.bancaditalia.it/ pubblicazioni/temidi/td372/tema2it.pdf
9. Chirinko, R. S. (1993) Business fixed investment spending: modeling strategies, empirical results and policy implications, Journal of Economic Literature, 31, 1875-911.
10. European Commission, Convergence Report 1998, European Economy, n. 65, 1998.
11. European Commission, Economic Outlook of the EU: 1998-2000, European Economy, Suppl. A, n. 10, 1998.
12. Ferrando, A. (1999) Gross fixed capital formation in Europe: 1970-1998, Enterprise DG Working Paper, No. 4.
13. Guiso, L. and Parigi, G. (1999) Investment and demand uncertainty, Quarterly Journal of Economics, 114, 1-43.
14. Jorgenson, D. W. (1971) Econometric studies of investment behavior: a survey, Journal of Economic Literature, 9, 1111-47.
15. OECD (1999) ISDB 98: International Sectoral Data Base.
16. Penn World Table (Mark 5.6) (1994).
17. Summers, R. and Heston, A. (1991) The Penn World Table (Mark 5): an expanded set of international comparisons, 1950-1988, Quarterly Journal of Economics, 106, 327-68.