In this paper the standard Euler equation investment model with imperfectly competitive product markets is extended for … imperfectly competitive structures on the factor markets: labour markets and markets for investment goods. This extension leads to …

Using a newly constructed panel dataset of German enterprises, I estimate R&D and capital investment equations for the … time period from 1990 to 1994. Simple accelerator specifications indicate considerable sensitivity of R&D and investment to … account, but a significant positive relationship between cash flow and investment remains for relatively small firms. In the …