Tevlin, Stacey; Whelan, Karl - Federal Reserve Board (Board of Governors of the … - 2000
Real equipment investment in the United States has boomed in recent years, led by soaring investment in computers. We …--mainly because these models neglect to address two features that are crucial (and unique) to the current investment boom. First, the … pace at which firms replace depreciated capital has increased. Second, investment has been more sensitive to the cost of …