Investment Behavior of U.S. Firms Over Heterogeneous Capital Goods: A Snapshot
FRB of San Francisco Working Paper No. 2004-21
22 Pages Posted: 19 Jan 2005
Date Written: October 2004
Abstract
The 1998 Annual Capital Expenditure Survey (ACES) provides information on disaggregate investment across a wide range of detailed asset types for a representative sample of roughly 30,000 firms. These rich data on disaggregate investment provides us with a point-in-time snapshot of investment composition choices at the firm level. This short paper uses this data to establish a number of stylized facts about disaggregate investment behavior, with a special focus on information technology.
Keywords: Capital Heterogeneity, Investment
JEL Classification: D21, D24, D29
Suggested Citation: Suggested Citation
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