Business Fixed Investment and the Recent Business Cycle in Japan

52 Pages Posted: 4 Oct 2010

See all articles by Nobuhiro Kiyotaki

Nobuhiro Kiyotaki

Princeton University - Department of Economics

Kenneth D. West

University of Wisconsin - Madison - Department of Economics; National Bureau of Economic Research (NBER)

Date Written: April 1996

Abstract

To analyze business fixed investment in Japan, which has been unusually volatile in recent years, we develop and apply a loglinear flexible accelerator model. We find that movements in business fixed investment are consistent with movements in output and the tax- adjusted cost of capital, both on average during our entire 1961-94 sample and during the recent 1986-94 business cycle.

Suggested Citation

Kiyotaki, Nobuhiro and West, Kenneth D., Business Fixed Investment and the Recent Business Cycle in Japan (April 1996). NBER Working Paper No. w5546, Available at SSRN: https://ssrn.com/abstract=1685734

Nobuhiro Kiyotaki (Contact Author)

Princeton University - Department of Economics ( email )

Princeton, NJ 08544-1021
United States

Kenneth D. West

University of Wisconsin - Madison - Department of Economics ( email )

1180 Observatory Drive
Madison, WI 53706
United States
608-262-0033 (Phone)
608-262-2033 (Fax)

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

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