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.
| ISBN: | 9783540588092 |
| Publication date: | 17th February 1995 |
| Author: | Marga Peeters |
| Publisher: | Springer an imprint of Springer Berlin Heidelberg |
| Format: | Paperback |
| Pagination: | 204 pages |
| Series: | Lecture Notes in Economics and Mathematical Systems |
| Genres: |
Economic theory and philosophy Population and demography |