Lack of a conceptual basis for measuring human capital investment in health has hampered efforts to expand national accounting systems to include human capital investment. This paper presents a conceptual basis for developing estimates of this health investment, an estimation methodology consistent with the conceptual basis, and preliminary estimates for the United States for 1952-78. While muc...

This study predicts cross-sectional investment (asset-normalized capital expenditures) innovations within the United States, Canada, Great Britain, (mainland) Europe, and Japan. We find that lagged stock returns are the most important cross-sectional predictors of investment increases – except in mainland Europe. American firms tend to react more than Japanese firms but less than Canadian and B...

An Entrepreneur’s Problem Under Perfect Foresight Consider a firm characterized by the following: kt Firm’s capital stock at the beginning of period t f(k) The firm’s total output depends only on k it Investment in period t j(i, k) AdJustment costs associated with investment i given capital k ξt = it + jt eXpenditures (purchases plus adjustment costs) on investment β = 1/R Discount factor for f...

Capital expenditures by the top 100 firms make up more than 60% of aggregate investment by publicly traded firms and account for most of the variation in aggregate net fixed private nonresidential investment. Surprisingly, these firms have the highest investment-cash flow sensitivity in the economy, despite being the least financially constrained. Further, contrary to the trend among smaller fi...

the paper in the study of poverty in pakistan is aimed at the analysis of macroeconomic determinants of poverty. it reviews the empirical literature on poverty in pakistan over the last thirty years. the literature varies from published research papers to the different reports produced by the national and the international institutions. it also estimates the impact of different causes of povert...

This paper derives conditions for two key Keynesian propositions in a simple IS-LM model: (a) the paradox of thrift, and (b) the crowding-in of private investment expenditures by government expenditures. A linear specification of the model is then presented as a special case that can be used for empirical analysis. Using data for the US economy for the period 1959−2009, time series estimation o...

Student achievement has been identified as an important contributor to economic growth. This paper investigates the relationship between redistributive government activities and investment in human capital measured by student performance in international comparative tests in Mathematics and Science during the period 1980 to 2003. In fixed effects panel models, government consumption, government...

the aim of this research is to analyse of empirical relationship of fiscal policy and iranian trade account in the years 1338-1385(1959-2006). in and econometrics model the methods of engle and granger (1987), johansen (1988), ardl, pessaran and shin(1998), philips and hansen(1990), have been used to find out the effects of variables such as government expenditures(the component of public deman...