Investment: Theories and Analyses / Edition 1

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Investment provides an examination of the key macroeconomic theories which underpin fixed asset investment. It would make ideal reading for an intermediate level macroeconomics course or a module on fixed asset investment taking an applied macroeconomic perspective.

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Product Details

  • ISBN-13: 9780333915707
  • Publisher: Palgrave Macmillan
  • Publication date: 7/4/2003
  • Edition description: REV
  • Edition number: 1
  • Pages: 272
  • Product dimensions: 6.26 (w) x 9.26 (h) x 0.56 (d)

Meet the Author

Michelle Baddeley is Fellow and College Lecturer in Economics, Gonville and Caius College, University of Cambridge.

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Table of Contents

List of Boxes, Tables and Figures
List of Abbreviations
Pt. I Overview
1 Introduction 3
2 An overview of concepts and approaches 8
Pt. II Theoretical Issues
3 Intellectual ancestors: Irving Fisher and Maynard Keynes 23
4 Accelerator theory 47
5 Jorgenson's model of investment 57
6 The limitations of Jorgenson's model 66
7 Putty-clay models of investment 79
8 Adjustment costs and q theory 92
9 Uncertainty and investment 109
10 Post Keynesian analyses of investment 124
Pt. III Testing the Theories
11 Comparing Jorgenson's model and accelerator theory: evidence from the UK 139
12 Uncertainty in competing models of investment: evidence from the USA 149
Pt. IV Empirical Applications of Investment Principles
13 Computing investment in the New Economy: US evidence 163
14 Investment and development: a cross-sectional analysis 181
15 Residential investment: bubbles and crashes in the UK housing market, 1980-99 193
Pt. V Conclusion
16 Concluding remarks 211
Notes 217
Glossary 221
Statistical appendix: some basic econometric techniques 227
Bibliography 235
Index 249
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