Alternative Investment Models for Firms in the Electric Utilities Industry

摘要: In this paper an analysis is made of the investments in turbogenerator sets by a sample 15 firms electric utilities industry for period 1948 through 1969. Two models firm investment are proposed and tested. The first directly related to earlier work Chenery, which he pointed out that existence economies scale would lead lumpy investments. This model consistent with individual data. second familiar distributed lag predicts will take place smoothly. inconsistent addition, predictions aggregate these fit about as well estimated Bayesian methods estimation inference used throughout arrive at conclusions.