Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/205659 
Authors: 
Year of Publication: 
2014
Series/Report no.: 
New Zealand Treasury Working Paper No. 14/04
Publisher: 
New Zealand Government, The Treasury, Wellington
Abstract: 
I extend the Glick and Rogoff (1995) aggregate time-series, empirical, intertemporal model of country-investment (and the current account) to a sectoral-level, and estimate it for New Zealand. I fit the model to panel data of eleven industries from 1988-2009. The sectoral-level investment growth is a function of lagged investment level, sector-specific TFP shocks, country-specific TFP shocks, and global TFP shocks. The estimates seem robust to government spending shocks and Terms of Trade shocks.
Subjects: 
Investments
sectoral-level
TFP shocks
panel data
JEL: 
E2
C2
C3
ISBN: 
978-0-478-42114-9
Creative Commons License: 
cc-by Logo
Document Type: 
Working Paper

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