Verick, Sher; Letterie, Wilko; Pfann, Gerard - Institute for the Study of Labor (IZA) - 2004
The empirical identification of non-linearities in investment relies on how investment is assumed to be separated into … investment which allows us to observe regime separation, an aspect of the data that is typically absent from previous empirical … concentrating investment in a single year. Moreover, there is evidence that investment is more sensitive to fundamentals in the high …