Bibliographic Information

Investment and factor demand

Patrick Artus, Pierre-Alain Muet ; [translated by Jonathan Mandelbaum]

(Contributions to economic analysis, 193)

North-Holland , Elsevier Science, 1990

Other Title

Investissement et emploi

Uniform Title

Investissement et emploi

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Note

Rev. traslation of: Investissement et emploi

Includes bibliographical references

Description and Table of Contents

Description

The first part of the book presents the estimation of traditional models of investment, their interpretation in the light of the disequilibrium theory and their use in evaluating the economic policies implemented during the seventies. The issue of the best representation of the production technology is also addressed. The second part analyses the interdependance of the decisions of investment, employment and consumption of raw materials using simultaneous estimations of factor demand equations, as well as the dynamic adjustment costs firms are facing. The last section illustrates the most recent theories and econometric methods: investment models with several regimes taking into account sales, employment and financing constraints, and the introduction of the uncertainty on future sales.

Table of Contents

Theoretical foundations and main models (P. Artus, P.-A. Muet). Econometric models of investment: a comparative study on annual data (P.-A. Muet). A reconsideration of the comparison between putty-putty and putty-clay hypotheses in the estimation of effective demands for investment (P. Artus, P.-A. Muet). Economic policy and investment in the 1970s (P. Artus, P.-A. Muet). A joint estimation of demand for investment and labor (P. Villa, P.-A. Muet, M. Boutillier). The dynamics of investment and employment with capital and labor adjustment costs (P. Artus). Production functions with the energy factor: estimations for the major OECD countries (P. Artus, C. Peyroux). Investment with demand, labor and financial constraints: the estimation of a multi-regime model (P. Artus, P.-A. Muet). Production capacity, factor demand and demand uncertainty (P. Artus). Epilogue: Econometric models in France: recent developments. Conclusion. References. Index.

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