Girardi, Daniele; Pariboni, Riccardo - 2018
This paper looks at the effect of demand shocks on the investment share of the economy. Using panel data on 20 OECD … countries, we show that the rate of growth of autonomous demand (exports, public spending and housing investment) is positively … correlated with subsequent values of the share of business investment in GDP. By means of an instrumental-variables strategy, we …