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Summary We analyse the investment behaviour of German firms within the framework of the Q-theory. Because we use anonymous individual firm balance sheet data, no stock market measure of Q is available. The data set contains 1,342 manufacturing firms covering the period 1987 to 1998. Using the...
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VAR analysis using long-run identification restrictions only. This paper presents an analogous decomposition on the basis … model. In order to facilitate a comparison with the results from the structural VAR studies, very similar data are used here … property of exchange rates. This is in contrast to the delayed exchange rate responses typical in the structural VAR studies …
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cointegration and the estimation of Vector Autoregression (VAR) and Vector Error Correction Models (VECM). While we cannot reject …
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