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Reexamining the cyclical behavior of the relative price of investment

Beaudry, P; Moura, A; Portier, F; (2015) Reexamining the cyclical behavior of the relative price of investment. Economics Letters , 135 pp. 108-111. 10.1016/j.econlet.2015.05.011. Green open access

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Abstract

We document the cyclical behavior of the relative price of investment goods for the US economy over the last fifty years. There is no robust evidence that this relative price is countercyclical. For the post-1983 period, it is predominantly procyclical.

Type: Article
Title: Reexamining the cyclical behavior of the relative price of investment
Open access status: An open access version is available from UCL Discovery
DOI: 10.1016/j.econlet.2015.05.011
Publisher version: http://doi.org/10.1016/j.econlet.2015.05.011
Language: English
Additional information: This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions.
Keywords: Relative price of investment, business cycles
UCL classification: UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of SandHS > Dept of Economics
URI: https://discovery.ucl.ac.uk/id/eprint/10039991
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