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- W1977646502 abstract "Abstract This paper develops and estimates an investment model that explicitly outlines the connection between investment starts and completions, a connection that is often left vague in analyzing investment dynamics. The model uses gestation lag technology along with adjustment cost. Consequently, the model is built on dynamic marginal cost pricing considerations. The findings in this paper suggest, using the U.S. quarterly investment in single-family housing units from 1963 to 1991, that gestation lag with adjustment cost technology fits the description of the industry and potentially addresses the well known problem of the positive autocorrelation in residuals discussed in the empirical Q -investment and neoclassical adjustment cost literature." @default.
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- W1977646502 date "1999-03-01" @default.
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- W1977646502 title "Housing Investment Dynamics, Period of Production, and Adjustment Costs" @default.
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- W1977646502 doi "https://doi.org/10.1006/jhec.1999.0239" @default.
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