"In aggregate models, costs that penalise changes in investment--investment adjustment costs-- have been introduced to help account for a variety of business cycle and asset market phenomena. In this paper, we evaluate empirical evidence for these types of costs using US and UK industry data. We...

In aggregate models, costs that penalise changes in investment - investment adjustment costs - have been introduced to help account for a variety of business cycle and asset market phenomena. In this paper, we evaluate empirical evidence for these types of costs using US and UK industry data. We...

We argue that unmeasured investments in intangible organizational capital associated with the role of information and communications technology (ICT) as a general purpose technology' can explain the divergent U.S. and U.K. TFP performance after 1995. GPT stories suggest that measured TFP should...

We argue that unmeasured investments in intangible organizational capital-associated with the role of information and communications technology (ICT) as a "general purpose technology" - can explain the divergent U.S. and U.K. TFP performance after 1995. GPT stories suggest that measured TFP...