A study of the relationship between investment and output using spectral analysis

Morgan, Bryan. (1993). A study of the relationship between investment and output using spectral analysis Honours Thesis, School of Economics, The University of Queensland.

       
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Author Morgan, Bryan.
Thesis Title A study of the relationship between investment and output using spectral analysis
School, Centre or Institute School of Economics
Institution The University of Queensland
Publication date 1993
Thesis type Honours Thesis
Total pages 127
Language eng
Subjects 14 Economics
Formatted abstract This thesis examines the relationship between investment and output using spectral analysis. Three theoretical models of investment determination are examined. These are the accelerator model, the neoclassical model and the securities value (Tobin's q) model. Spectral analysis is used to explore the dynamic relationship between investment and output to give some insight into which of these models, if any, is most appropriate for further study. The principles of spectral analysis are developed and a number of examples of its application are presented. The results of the empirical analysis indicate that, in aggregate and for a majority of industries studied, investment leads output. This outcome is contrary to that indicated by the neoclassical model and supports the Keynesian analysis of investment expenditure.

Document type: Thesis
Collection: UQ Theses (non-RHD) - UQ staff and students only
 
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Created: Mon, 22 Nov 2010, 12:05:44 EST by Ning Jing on behalf of The University of Queensland Library