Empirica – Journal of European Economics

Sponsored by the Austrian Economic Association and the Austrian Institute of Economic Research

Empirica publishes empirical and theoretical work on all economic aspects of European Integration. The topics may range from all challenges concerning the deepening of the European Union (Single Market, Lisbon Agenda, EMU) to enlargement and the external relations of the EU (globalisation).

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Leon Podkaminer
The decline in investment shares is not caused by falling relative prices of capital: a note
Empirica, 2019, 46(2), S.369-380, http://www.springer.com/10663
Secularly declining GDP investment shares are often explained by the widespread fall in the relative price of investment goods. Granger non-causality tests applied to longer-term time series for a large number of industrial countries tend to reject that explanation.
JEL-Codes:E22 O11 C32
Keywords:Relative prices of capital; Investment shares; Secular stagnation; Granger causality
Forschungsbereich:Industrieökonomie, Innovation und internationaler Wettbewerb

Managing Editor

Univ.-Prof. Mag. Dr. Fritz Breuss

Funktion: Ökonom (Senior Economist), Managing Editor Empirica