S Fazzari, RG Hubbard… - 1988 - nber.org
Most empirical models of investment rely on the assumption that firms are able to respond to
prices set in centralized securities markets (through the" cost of capital" or" q"). An alternative
approach emphasizes the importance of cash flow as a determinant of investment ...
SM Fazzari, RG Hubbard… - The Quarterly Journal of …, 2000 - qje.oxfordjournals.org
Page 1. INVESTMENT-CASH FLOW SENSITIVITIES ARE USEFUL: A COMMENT
ON KAPLAN AND ZINGALES* STEVEN M. FAZZARI R. GLENN HUBBARD BRUCE
C. PETERSEN A recent paper in this Journal by Kaplan ...
SM Fazzari… - The RAND Journal of Economics, 1993 - JSTOR
Page 1. RAND Journal of Economics Vol. 24, No. 3, Autumn 1993 Working capital
and fixed investment: new evidence on financing constraints Steven M. Fazzari* and
Bruce C. Petersen* * This article presents new tests forfinance ...
RS Chirinko, SM Fazzari… - Journal of public …, 1999 - economics.emory.edu
Page 1. How responsive is business capital formation to its user cost? An exploration
with micro data Robert S. Chirinkoa,*, Steven M. Fazzarib, Andrew P. Meyerc a
Department of Economics, Emory University, Atlanta, GA 30322 ...
RE Carpenter, SM Fazzari, BC Petersen… - Brookings Papers on …, 1994 - JSTOR
Page 1. ROBERT E. CARPENTER Emory University STEVEN M. FAZZARI Washington
University in St. Louis BRUCE C. PETERSEN Washington University in St. Lou is Inventory
Investment, Internal-Finance Fluctuations, and the Business Cycle ...
SM Fazzari… - The Review of Economics and Statistics, 1987 - JSTOR
Page 1. ASYMMETRIC INFORMATION, FINANCING CONSTRAINTS, AND
INVESTMENT Steven M. Fazzari and Michael J. Athey* Abstract-The results of a number
of theoretical papers lead to the hypothesis that financial variables ...
JR Brown, SM Fazzari… - The Journal of Finance, 2009 - Wiley Online Library
Skip to Main Content. ...
S Fazzari, RG Hubbard… - The American Economic Review, 1988 - JSTOR
Studies of tax policy and corporate investment have been prominent in public finance and
macroeconomic research. By integrating corporate income tax rates, investment tax credits,
and the value of depreciation allowances into the" cost of capital," economists have ...
RE Carpenter, SM Fazzari… - Review of Economics and …, 1998 - MIT Press
Page 1. FINANCING CONSTRAINTS AND INVENTORY INVESTMENT: A
COMPARATIVE STUDY WITH HIGH-FREQUENCY PANEL DATA Robert E. Carpenter,
Steven M. Fazzari, and Bruce C. Petersen* Abstract—This study ...
SM Fazzari - Journal of Post Keynesian Economics, 1986 - JSTOR
Page 1. STEVEN M. FAZZARI and TRACY L. MOTT The investment theories of Kalecki
and Keynes: an empirical study of firm data, 1970-1982 I. Introduction In the 1930s,
John Maynard Keynes and Michal Kalecki independently ...
RS Chirinko… - Journal of Applied Econometrics, 1994 - Wiley Online Library
Page 1. JOURNAL OF APPLIED ECONOMETRICS, VOL. 9, 47-69 (1994) ECONOMIC
FLUCTUATIONS, MARKET POWER, AND DATA RETURNS TO SCALE: EVIDENCE
FROM FIRM-LEVEL RS CHIRINKO Department of Economics ...
[CITATION] Investment and finance reconsidered
S Fazzari, RG Hubbard… - Brookings Papers on Economic Activity, 1988
R Chirinko, S Fazzari… - CESifo Working Paper Series No …, 2004 - papers.ssrn.com
Abstract: The elasticity of substitution between capital and labor features prominently in
several areas of economic research. However, a consensus estimate remains elusive. We
develop an estimation strategy that filters panel data in an original way and avoids several ...
BZ Cynamon… - Capitalism and Society, 2008 - degruyter.com
Jump to ContentJump to Main Navigation: ...
SM Fazzari… - 1992 - books.google.com
Page 1. Financial Conditions and Macroeconomic Performance Essays in Honor
of Hyman P. Minsky Steven Fazzari and Dimitri B. Papadimitriou Editors Page 2.
Page 3. Page 4. Hyman P. Minsky, distinguished scholar at the ...
SM Fazzari… - Journal of Post Keynesian Economics, 1994 - JSTOR
... Anna Maria Variato is a doctoral student at the University of Bergamo, Italy. Steven Fazzari wrote
the introduction and sections 2.1 and 4. Anna Maria Variato wrote sec- tions 1, 2.2, and 3. Journal
of Post Keynesian Economics / Spring 1994, Vol. 16, No. 3 351 Page 2. ...
SM Fazzari - Journal of Post Keynesian Economics, 1994 - JSTOR
Page 1. STEVEN M. FAZZARI Why doubt the effectiveness of Keynesian fiscal policy?
Developments in macroeconomics over the past several decades are widely believed to have
shown the ineffectiveness of Keynesian demand management policy. ...
RS Chirinko, SM Fazzari… - … Conference on Panel …, 2002 - economics.emory.edu
Page 1. That Elusive Elasticity: A Long-Panel Approach To Estimating The Price
Sensitivity Of Business Capital Robert S. Chirinko, Steven M. Fazzari, and Andrew
P. Meyer* June 2002 * We thank Hashem Dezhbakhsh, Harry ...
SM Fazzari - Public Policy Brief, 1993 - en.scientificcommons.org
SM Fazzari, P Ferri… - Journal of Post Keynesian Economics, 1998 - JSTOR
Page 1. STEVEN M. FAZZARI, PIERO FERRI, AND EDWARD GREENBERG Aggregate
demand and firm behavior: a new perspective on Keynesian microfoundations The
defining feature of Keynesian economics is that fluctuations ...
S Fazzari - Transforming the US Financial System: Equity and …, 1993 - books.google.com
Analysts from all parts of the political spectrum see capital investment as central to current
policy debates. Because of the many links between investment and financial markets, a
complete discussion of monetary and financial policy options must address the impact of ...
S Fazzari, P Ferri… - Journal of Economic Behavior & …, 2008 - Elsevier
This paper analyzes a dynamic model with (1) an investment function that emphasizes cash
flow,(2) a Keynesian macroeconomic framework that determines cash flow
endogenously,(3) a dynamic labor market model that drives wage and price adjustments, ...
S Fazzari - 1999 - papers.ssrn.com
Abstract: In this working paper, Steven Fazzari presents new empirical research that
attempts to measure the relative strength of fiscal policy on investment through the cost of
capital, firms' financial circumstances, and sales growth. Fazzari argues against the ...
S Fazzari… - Working Paper Series, Macroeconomic …, 1990 - ideas.repec.org
Did you know? Over 86% of the top 1000 economists are registered on RePEc. ... No abstract
is available for this item. ... To our knowledge, this item is not available for download. To find
whether it is available, there are three options: 1. Check below under "Related research" ...
S Fazzari - The Jerome Levy Economics Institute Working Paper …, 1999 - papers.ssrn.com
Abstract: Hyman Minsky's research emphasized the central role of finance in modern
economies at a time when finance was not important in most mainstream macroeconomic
research. But in the 1980s, mainstream research began to explore the role of finance in ...
RS Chirinko… - Review of Economics and Statistics, 2000 - MIT Press
Page 1. NOTES MARKET POWER AND INFLATION Robert S. Chirinko and Steven
M. Fazzari* Abstract—Market power exercised by firms has become central to
macroeconomics. Recent theoretical work highlights the importance ...
RE Carpenter, SM Fazzari… - Economics Working Paper …, 1995 - 129.3.20.41
Page 1. Three Financing Constraint Hypotheses and Inventory Investment: New
Tests With Time and Sectoral Heterogeneity Robert E. Carpenter, Steven M. Fazzari,
and Bruce C. Petersen* September 17, 1995 Abstract: Over ...
SM Fazzari… - Journal of Post Keynesian Economics, 1996 - JSTOR
... Crotty, James. "Owner-Manager Conflict and Financial Theories of Investment Insta- bility: A
Critical Assessment of Keynes, Tobin, and Minsky." Journal of Post Key- nesian Economics,
1990,12, 519—542. Fazzari, Steven. ... 9, 1993. Fazzari, Steven, and Variato, Anna Maria. ...
SM Fazzari - Journal of Post Keynesian Economics, 1985 - JSTOR
Page 1. STEVEN M. FAZZARI Keynes, Harrod, and the rational expectations
revolution In the past fifteen years, economists' modeling of expectations forma-
tion processes has undergone what some have called a revolution. ...
J Caskey… - 1999 - papers.ssrn.com
Abstract: In conventional macroeconomic thought, price flexibility stabilizes the economy.
The more quickly prices fall (or inflation decreases) in a demand-induced recession, the
faster output returns to its full-employment level. An alternative tradition, however, ...
RS Chirinko… - Recherches Économiques de Louvain/Louvain …, 1988 - JSTOR
Page 1. Tobin's Q, non-constant returns to scale, and imperfectly competitive product markets
Roberts. CHIRINKO University of Chicago and Steven M. FAZZARI1 Washington University 1
Introduction A defining characteristic of models of investment behavior is the ...
S Fazzari… - Financial dynamics and business cycles: …, 1989 - books.google.com
In the General Theory of Employment, Interest, and Money (1936), Keynes analyzed the
persistent, massive waste of productive potential so evident during the Great Depression.
Keynes's theory questioned the viability of laizzez-faire capitalism. The" invisible hand" of ...
J Caskey… - Journal of Economic Issues, 1986 - JSTOR
Credit markets play a surprisingly limited role in traditional macroeconomic theory. Dominant
thinking about financial markets focuses almost exclusively on the supply and demand for
money, the level of interest rates, and the determination of prices and expected prices. ...
SM Fazzari - Review, 1987 - ideas.repec.org
Downloadable! No abstract is available for this item.
S Fazzari, P Ferri… - Cash Flow, Investment, and …, 2003 - economics.wustl.edu
Abstract This paper analyzes a dynamic model with (1) an investment function that
emphasizes cash flow,(2) a Keynesian macroeconomic framework that determines cash flow
endogenously,(3) a dynamic labor market model that drives wage and price adjustments, ...
[CITATION] Tax policy and investment: A reconsideration
S Fazzari, RG Hubbard… - American Economic Review, 1988
RS Chirinko, SM Fazzari, AP Meyer… - 1996 - 129.3.20.41
Page 1. What Do Micro Data Reveal About the User Cost Elasticity?: New- Evidence on the
Responsiveness of Business Capital Formation by Robert S. Chirinko Steven M. Fazzari Andrew
P. Meyer Working Paper No. 175 November 1996 The authors' affiliations are. ...
SM Fazzari - Review, 1987 - econpapers.repec.org
By Steven Mark Fazzari; Tax reform and investment: blessing or curse?
[CITATION] Capital Gains Taxes and Economic Growth
SM Fazzari… - Public Policy Brief, 1996
SM Fazzari - Revista de, 1989 - rep.org.br
Page 1. Revista de Economia Politica, vol. 9, п." 4, out ubro-dezembro/1989 Keynesian
theories of investment: neo-, post- and new STEVEN FAZZARr INTRODUCTION: A
BRIEF INTELLECTUAL HISTORY OF THE RELATIONSHIP ...
RS Chirinko, SM Fazzari… - Journal of Business & …, 2011 - Taylor & Francis
Page 1. A New Approach to Estimating Production Function Parameters: The Elusive
Capital–Labor Substitution Elasticity Robert S. CHIRINKO Department of Finance, University
of Illinois at Chicago, Chicago, IL 60607-7121 (chirinko@uic.edu) ...
SM Fazzari - Economics Policy Note Archive, 1999 - ideas.repec.org
Downloadable! Tax reform that reduces tax rates on capital income, no matter how successful
it is in reducing the user cost of capital, will have at best minimal effects on capital formation
and output and therefore on the growth of the US economy.
S Fazzari… - Jerome Levy Economics Institute Working …, 1995 - papers.ssrn.com
Abstract: Congress currently is considering changes in the capital gains tax, including
reducing the rate, indexing the rate to inflation, or some combination of reduction and
indexing. These changes have been advocated on the grounds that a cut in the rate will ...
SM Fazzari… - Economics Public Policy Brief Archive, 1996 - ideas.repec.org
Downloadable! Research Associate Steven M. Fazzari and Benjamin Herzon assess the effect
of a capital gains tax cut on firms' decisions to undertake new investment projects and the possible
effect of such projects on economic growth and employment. Their analysis takes into ...
[CITATION] Rising Debt in the Private Sector: A Cause for Concern?
J Caskey… - Profits, Deficits, and Instability. London: Macmillan, 1992
SM Fazzari - Journal of Post Keynesian Economics, 2009 - ME Sharpe
Page 1. Journal of Post Keynesian Economics / Fall 2009, Vol. 32, No. 1 3 © 2009 ME Sharpe,
Inc. 0160–3477 / 2009 $9.50 + 0.00. DOI 10.2753/PKE0160-3477320101 StEVEN M. FazzarI
Keynesian macroeconomics as the rejection of classical axioms ...
[CITATION] Factors in Business Investment: An Econometric Exploration
RS Chirinko… - manuscript, not for citation, September, 1993
[CITATION] Cash Flow, Investment, and Keynes-Minsky Cycles
F Steven, P Ferri… - 2006 - Internet
J Caskey… - Research Working Paper, 1989 - ideas.repec.org
No abstract is available for this item. ... To our knowledge, this item is not available for
download. To find whether it is available, there are three options: 1. Check below under "Related
research" whether another version of this item is available online. 2. Check on the ...
[CITATION] Market Power, Returns to Scale, and Q: Evidence from a Panel of Firms
RS Chirinko… - University of Chicago. Photocopied, 1990
[CITATION] Nominal Debt Commitments and Aggregate Demand: Is Wage Flexibility Stabilizing?
JP Caskey… - Economic Inquiry, 1987
[CITATION] Minsky and the Mainstream: Has Research Rediscovered Financial Keynesianism?
SM Fazzari - The Jerome Levy Economics Institute, Working Paper, 1999
[CITATION] Business Investment and the User Cost of Capital: New Evidence From US Panel Data
RS Chirinko, SM Fazzari… - Emory University, Atlanta GA. Mimeo, 1996
[CITATION] 275 of aggregate and firm investment
RS Chirinko… - Economica
[CITATION] Investment in Imperfect Capital Markets: Financing Constraints and the Neoclassical Model
SM Fazzari, M Athey… - 1986 - Center for the Study of American …
[CITATION] A Penny Saved May Not Be a Penny Earned
SM Fazzari - 2004 - working paper available at http://fazz …
[CITATION] Investment-Cash Flow Sensitivities: A Comment on Kaplan and Zingales
SM Fazzari, RG Hubbard… - Quarterly Journal of Economics, 1997
[CITATION] Job Loss in the United States, 1981–2001
S Fazzari - NBER Working Paper, 2003
[CITATION] R., Petersen, Bruce (1988), Financing Constraints and Corporate Investment
S Fazzari… - Brookings Papers on Economic Activity, S
RS Chirinko… - 1992 - ideas.repec.org
Downloadable! Recent research on aggregate fluctuations, coupled with ongoing work in industrial
organization, has renewed interest in the existence, magnitude, and cyclical pattern of market
power and the extent of increasing returns to scale across industries. By exploiting restrictions ...
[CITATION] The microeconomic dynamics of output and employment
SM Fazzari - 1982 - Stanford University
BZ Cynamon… - 2010 - ie.ufrj.br
Page 1. The End of the Consumer Age Barry Z. Cynamon Steven M. Fazzari
barry.cynamon@gmail.com fazz@wustl.edu July, 2010 This chapter is based on
our 2008 article “Household Debt in the Consumer Age: Source of ...
SM Fazzari, P Ferri… - Journal of Economic Dynamics and …, 2010 - Elsevier
[CITATION] Investment cycles in capitalist economies: A Kaleckian behavioural contribution
J Courvisanos, S Fazzari - Journal of …, 1998 - Nashville [etc.]: American Economic …
B Petersen, R Hubbard… - 1998 - papers.ssrn.com
Abstract: Kaplan and Zingales (1995, hereafter KZ) criticize Fazzari, Hubbard and Petersen
(1988, hereafter FHP) and much ensuing research that uses cross-sectional differences in
firm behavior to test for financing constraints on investment. This reply identifies flaws in ...
S Fazzari, J Morley… - 2011 - artsci.wustl.edu
Abstract This paper estimates the effects of government spending shocks and tax shocks on
US economic activity using a threshold vector autoregression (TVAR) model. We find
evidence of asymmetry in the effects of fiscal policy across regimes, defined by the state of ...
[CITATION] The theory of the active firm
SM Fazzari - Heterodox macroeconomics: Keynes, Marx and …, 2009 - Taylor & Francis
S Fazzari, J Morley… - 2011 - research.economics.unsw.edu.au
Abstract We investigate the effects of government spending and taxes on US economic
activity using a threshold version of a structural vector autoregressive model. Our empirical
findings support state-dependent effects of fiscal policy. In particular, the effects of ...
S Fazzari - 2007 - peri.umass.edu
Suppose one were to ask the typical “person on the street” which agents or institutions are
the movers and shakers in modern capitalist economies? I strongly suspect that business
firms, perhaps in the form of the large corporation, would appear at the top of the list. Firms ...
[CITATION] The Journal of Macroeconomics gratefully acknowledges the inued support of the distinguished members of the Editorial• d and the following roster of …
P Alton, F Attfield, B Beare… - Journal of …, 1991 - Wayne State University Press
SM Fazzari, P Ferri… - Economics Working Paper …, 1995 - ideas.repec.org
Downloadable! No abstract is available for this item.
[CITATION] Understanding the Great Recession
BZ Cynamon, SM Fazzari…
SM Fazzari… - 2007 - law.wustl.edu
Page 1. Financing Innovation and Growth: Cash Flow, External Equity and the 1990s R&D
Boom July 12, 2007 James R. Brown, Department of Economics, Montana State University
(jrbrown@montana.edu) Steven M. Fazzari, Washington University in St. ...
W Godley, OM Levin-Waldman, C D'Ambrosio… - levyinstitute.org
Page 1. CO NTEN TS I n st itu te Re sea rch Special Feature • Wynne Godley,
Inventories and the US Business Cycle . . . . . 4 P rogram: Distribution of Income
and W ealth • Conference: The Macrodynamics ...
BC Petersen, JR Brown… - 2007 - deutschebundesbank.de
Page 1. http://www.bundesbank.de Financial Structure of Financial and Non-financial
firms: Determinants and Consequences 3rd Kleistvilla Workshop Potsdam, 9 July
2007 Bruce C Petersen Washington University in St Louis ...
S Fazzari - artsci.wustl.edu
Saving is a virtue, we are all taught, and this view permeates most of modern economic
thinking. As individuals, we see saving as the path to wealth and economic security. The
frugal habits of the Depression-era generation are held up as a role model that contrasts ...
[CITATION] Inferences about Threshold Effects in Macroeconomic Relationships
L Donayre, J Morley, S Fazzari… - 2008
S Fazzari… - 1995 - levyinstitute.org
Tax cuts have played a prominent part in the US conservative political uprisings of the early
1980s and middle 1990s. The economic objective of these cuts is to “get government off the
backs” of the private economy to stimulate work, saving, and investment. Tax cuts on ...
S Fazzari, J Morley… - 2011 - faculty.chicagobooth.edu
Abstract We investigate the effects of government spending and taxes on US economic
activity using a threshold version of a structural vector autoregressive model. Our empirical
findings support state-dependent effects of fiscal policy. In particular, the effects of ...
S Fazzari, P Ferri… - 2000 - cfeps.org
Abstract This paper analyzes the relationships that occur in a dynamic macroeconomic
model that contains: 1) an investment function based on Keynesian animal spirits and
Minsky's financial effects, 2) explicit microfoundations for firm behavior that endogenize ...
[CITATION] No Need to Panic About US Government Deficits
BZ Cynamon…
SM Fazzari - estes.levy.org
Page 1. Policy Note 1999/7 Capital Income Taxes and Economic Performance Steven
M. Fazzari Tax reform that reduces tax rates on capital income, no matter how
successful it is in reducing the user cost of capital, will have ...
[CITATION] Saving for America's economic future: Armonk, NY[ua], Sharpe, 1990
SM Fazzari - Journal of economic literature, 1991
R Aspinwall, R Bartel, A Balbach… - … : essays in honor of …, 1992 - books.google.com
Hyman P. Minsky Born: September 23, 1919 in Chicago, Illinois Academic Degrees Bachelor
of Science-University of Chicago, 1941 Master of Public Administration-Harvard University, 1947
Doctor of Philosophy-Harvard University, 1954 Academic Appointments ...
A Demand, SM Fazzari, P Ferri… - 1995 - levyinstitute.org
Page 1. Aggregate Demand and Micro Behavior: A New Perspective on Keynesian
Macroeconomics Steven M. Fazzari” Piero Ferri** Edward Greenberg*** Working Paper No. 134
January 1995 *Associate Professor of Economics at Washington University, St. ...
[CITATION] Politica monetaria interna:? si no es monetarismo, entonces qué?
SM Fazzari - Investigacion economica, 1986
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