Using a firm-level panel data set I assess whether dynamic models of investment provide an empirically fruitful … not been considered in previous studies on investment even though most (if not all) panel data sets on firms are … tax rate was partly compensated for by stricter depreciation allowances. Investment dynamics appear to be crucial for the …

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 …