Himmelberg, Charles; Boca, Alessandra del; Galeotti, Marzio - Fondazione ENI Enrico Mattei (FEEM) - 2005
“Time to build” models of investment expenditures play an important role in many traditional and modern theories of the … business cycle, especially for explaining the dynamic propagation of shocks. We estimate the structural parameters of a time-to-build … model using firm-level investment data on equipment and structures. For equipment expenditures, we find no evidence of time-to-build …