Cyclical Activity and Gestation Lags in Investment

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Cyclical Activity and Gestation Lags in Investment. / Ercolani, Joanne.

In: Manchester School, 2013.

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@article{d7ed073066fb48aaac323fc21886b439,
title = "Cyclical Activity and Gestation Lags in Investment",
abstract = "This paper uses a macroeconomic model of investment behaviour to identify cyclical activity in UK investment. Various cycles are detected and their lengths are estimated. As a new contribution to the business cycle literature, we estimate the gestation lags inherent in investment projects (arising from capital adjustment, buildings construction etc.) that are considered central to the creation of fluctuations in economic activity. We find multiple and statistically significant cycles in our investment series, including a 3.1-year Kitchin cycle, a 9.6-year Juglar cycle and a 22.2-year Kuznets swing, driven by gestation lags of 1.1 years, 2.4 years and 12 years respectively.",
author = "Joanne Ercolani",
year = "2013",
doi = "10.1111/manc.12040",
language = "English",
journal = "Manchester School",
issn = "1463-6786",
publisher = "Wiley",

}

RIS

TY - JOUR

T1 - Cyclical Activity and Gestation Lags in Investment

AU - Ercolani, Joanne

PY - 2013

Y1 - 2013

N2 - This paper uses a macroeconomic model of investment behaviour to identify cyclical activity in UK investment. Various cycles are detected and their lengths are estimated. As a new contribution to the business cycle literature, we estimate the gestation lags inherent in investment projects (arising from capital adjustment, buildings construction etc.) that are considered central to the creation of fluctuations in economic activity. We find multiple and statistically significant cycles in our investment series, including a 3.1-year Kitchin cycle, a 9.6-year Juglar cycle and a 22.2-year Kuznets swing, driven by gestation lags of 1.1 years, 2.4 years and 12 years respectively.

AB - This paper uses a macroeconomic model of investment behaviour to identify cyclical activity in UK investment. Various cycles are detected and their lengths are estimated. As a new contribution to the business cycle literature, we estimate the gestation lags inherent in investment projects (arising from capital adjustment, buildings construction etc.) that are considered central to the creation of fluctuations in economic activity. We find multiple and statistically significant cycles in our investment series, including a 3.1-year Kitchin cycle, a 9.6-year Juglar cycle and a 22.2-year Kuznets swing, driven by gestation lags of 1.1 years, 2.4 years and 12 years respectively.

U2 - 10.1111/manc.12040

DO - 10.1111/manc.12040

M3 - Article

JO - Manchester School

JF - Manchester School

SN - 1463-6786

ER -