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The Demand for Capital Goods by Manufacturers: A Study of Quarterly Time Series
Frank de Leeuw
Abstract
Quarterly time series for all manufacturing are used in this study to test the relationship between plant and equipment expenditures and (a) output and capacity, (b) the flow of internal funds, and (c) the level of corporate bond yields. The study makes use of a newly derived capacity index for all manufacturing and experiments with a number of different lag distributions.
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