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Investment in France Since the Beginning of the Eighties (In French)

34 Pages Posted: 4 Jan 2011  

Delphine Irac

Banque de France

Pascal Jacquinot

European Central Bank (ECB)

Date Written: April 1, 1999

Abstract

Since the early 1990's, the total investment in the business sector seems to be lower than the level predicted by the dynamics prevailing in the 1980's. The usual explanatory variables of investment (demand, profit, degree of utilization capacity) are not sufficient to explain its evolution in the recent years. However investment has a quite different dynamics according to the type of goods that is considered. In the 1990's, the behavior of the equipment investment is in accordance with the dynamics of the 1980's, mainly explained by activity and profit. But, whereas building investment seems to be complementary to the equipment until 1990, both investments move afterwards in a different way. The unexpected behavior of the overall investment in the recent years originates in the building investment.

Suggested Citation

Irac, Delphine and Jacquinot, Pascal, Investment in France Since the Beginning of the Eighties (In French) (April 1, 1999). Banque de France Working Paper No. 63. Available at SSRN: https://ssrn.com/abstract=1734345 or http://dx.doi.org/10.2139/ssrn.1734345

Delphine Irac (Contact Author)

Banque de France ( email )

Paris
France

Pascal Jacquinot

European Central Bank (ECB) ( email )

Sonnemannstrasse 22
Frankfurt am Main, 60314
Germany

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