Investment, finance and the business cycle: evidence from the Dutch manufacturing sector
In this paper we analyse the impact of profits on investment using data from the Dutch manufacturing sector in a simple Kaleckian investment model. Profits and capacity determine the level of investment. The empirical analysis of this ‘non-mainstream’ model confirms conclusions drawn in the context of financial accelerator models. The impact of profits on investment is countercyclical. Apparently, entrepreneurs use public capital markets primarily as a source of funds in booming periods.
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Dokumenttyp: | TEXT |
Erscheinungsdatum: | 1997 |
Verlag/Hrsg.: |
Oxford University Press
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Schlagwörter: | Articles |
Sprache: | Englisch |
Permalink: | https://search.fid-benelux.de/Record/base-28991808 |
Datenquelle: | BASE; Originalkatalog |
Powered By: | BASE |
Link(s) : | http://cje.oxfordjournals.org/cgi/content/short/21/3/395 |