Business Fixed Investment and the Recent Business Cycle in Japan

NBER Macroeconomics Annual

Volumn 11, Issue , 1996, Pages

  Kiyotaki, Nobuhiro ^a   West, Kenneth D ^b  

^a UNIVERSITY OF MINNESOTA   (United States)

^b University of Wisconsin

Author keywords

[No Author keywords available]

Indexed keywords

EID: 1542605466     PISSN: 08893365     EISSN: None     Source Type: Book Series    
DOI: 10.1086/654307     Document Type: Article

References (32)

1. Abel, A., and O. J. Blanchard. (1986). The present value of profits and cyclical movement in investment. Econometrica 54(2):249-273.
2. Ando, A., and A. J. Auerbach. (1990). The cost of capital in Japan: Recent evidence and further results. Journal of the Japanese and International Economy 4(4):323-350.
3. Ando, A., F. Modigliani, R. Raasche, and S. J. Turnovsky. (1974). On the role of expectations of price and technological change in an investment function. International Economic Review 15(2):384-414.
4. Baxter, M., and M. J. Crucini. (1993). Explaining investment-savings correlations. American Economic Review 83(3):416-436.
5. Bischoff, C. (1971). The effect of alternative lag distributions. In Tax Incentives and Capital Spending, G. Fromm (ed.). Brookings Institution.
6. Brunner, A. D., and S. B. Kamin. (1995). Bank lending and economic activity in Japan: Did "financial factors" contribute to the recent downturn? Federal Reserve Board of Governors. Manuscript.
7. Chirinko, R. S., and H. Schaller. (1995). Business fixed investment and "bubbles": The Japanese case. Manuscript.
8. Clark, P. K. (1979). Investment in the 1970s: Theory, performance, prediction. Brookings Papers on Economic Activity, (1) 73-113.
9. Cogley, T., and J. M. Nason. 1995. Output dynamics in real business cycle models. American Economic Review 85(3):492-511.
10. Economic Planning Agency. (1994). Economic Survey of Japan 1993-1994. Tokyo: Government of Japan.
11. Economic Planning Agency. (1996). The Japanese Economy: Recent Trends and Outlooks. Tokyo: Government of Japan.
12. Greenwood, J., Z. Hercowitz, and P. Krusell. (1995). "Long-run implications of investment specific technological change. University of Rochester. Manuscript.
13. Hall, R. E., and D. Jorgenson. (1967). Tax policy and investment behavior. American Economic Review, LVII(3):391-414.
14. Hayashi, F. (1982). Tobin's marginal q and average q: A neoclassical interpretation. Econometrica 50(1):213-224.
15. Hayashi, F. (1986). Why is Japan's savings rate so apparently high? In NBER Macroeconomics Annual 1986, S. Fischer (ed.). Cambridge, MA: The MIT Press, pp. 147-210.
16. Hayashi, F. (1990). Taxes and corporate investment in Japanese manufacturing. In Productivity Growth in Japan and the United States, C. R. Hulten (ed.). Chicago: University of Chicago Press, pp. 295-316.
17. Homma, M., F. Hayashi, N. Atoda, and K. Hata. (1984). Investment and corporate taxes (in Japanese). Institute of Economic Research of the Economic Planning Agency. Research Monograph No. 41.
18. Hoshi, T., and A. K. Kashyap. (1990). Evidence on q and investment for Japanese firms. Journal of the Japanese and International Economies 4:371-400.
19. Hoshi, T., A. K. Kashyap, and D. Scharfstein. (1991). Corporate structure, liquid- ity and investment: Evidence from Japanese industrial groups. Quarterly Journal of Economics CVI:33-60.
20. Iwamoto, Y. (1989). Average and marginal effective tax rates of Japanese enterprises (in Japanese). Finance Kenkyu (Finance Studies) 11:1-29.
21. Jones, L. E., and R. E. Manuelli. (1994). The sources of economic growth. University of Wisconsin. Manuscript.
22. Kaldor, N. (1963). Capital accumulation and economic growth. In Proceedings of a Conference Held by the International Economics Association, R A. Lutz, and D. C. Hague (eds.). London: Macmillan.
23. Kiyotaki, N., and J. Moore. (1994). Credit cycles. Manuscript.
24. Kiyotaki, N., and J. Moore. (1995). Credit chains. Manuscript.
25. Mullins, M., and S. B. Wadwhani. (1989). The effect of the stock market on investment: A comparative study. European Economic Review 33:939-956.
26. Newey, W. K., and K. D. West. (1987). A simple, positive semidefinite, heteroskedasticity and autocorrelation consistent covariance matrix. Econometrica, 55:703-708.
27. Nickell, S. (1979). Expectational investment models. London School of Economics. Manuscript.
28. Ogawa, K., S. Kitasaka, H. Yamaoka, and Y. Iwata. (1994). Borrowing constraints and role of land asset in Japanese corporate investment decision. In Keizai Bunseki (The Economic Analysis) No. 136. Economic Planning Agency pp. 113-151.
29. Simon, J. (1990). Great and almost-great magnitudes in economics. Journal of Economic Perspectives 4(1):149-156.
30. Tajiki, E., F. Hayashi, and Y. Abrai. (1987). Investment: Corporate taxes and the cost of capital. In Macroeconomic Analysis of the Japanese Economy, K. Hamada, M. Kuroda, and A. Horiuchi (eds.). Tokyo: Tokyo University Press.
31. West, Kenneth D. (1992). A comparison of the behavior of U.S. and Japanese inventories. International Journal of Production Economics 26:115-222.
32. Yoshikawa, H. (1995). Macroeconomics and the Japanese Economy. Oxford: Oxford University Press.