On the Nature of Capital Adjustment Costs

By Russell Cooper, John C. Haltiwanger. 2006

1,253 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/a64d21397c4f8d6b361fa7613f2bb761db409816

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

In Finance

Citations in the corpus

Financially Constrained Stock Returns (2009, neutral): “[Insert Table I Here] We set the curvature parameter in the production production, α, to be 0.65, which is about the average of the estimates provided by Cooper and Ejarque (2001, 2003), Cooper and Haltiwanger (2006), and Hennessy and Whited (2005, 2007).”
Really Uncertain Business Cycles (2012, neutral): “24See, for example, Hayashi (1982), Nickel (1986), Shapiro (1986), Caballero and Engel (1999), Ramey and Shapiro (2001), Hall (2004), Cooper, Haltiwanger and Willis (2004), Cooper and Haltiwanger (2006) as well as Mertz and Yashiv (2007).”
Changing Business Dynamism and Productivity: Shocks vs. Responsiveness (2018, background): “Fernald (2014), Byrne et al. (2016) and Gordon (2016) highlight many factors that are likely contributing to within-plant (and within-firm) declines in productivity growth in the post-2000 period.”
Technology Shocks and Job Flows (2007, background): “The operator Φ The operator Φ in ( 18 ) is implicitly defined by the following equation that relates ft(k,τ) to ft−1 and the jobs destruction and investment decisions at time t − 1:”
The Costs of Environmental Regulation in a Concentrated Industry (2012, background): “TARGETit = α4 + α ′ 5s1(CAPit) + α ′ 6s2(SUMCAP−it) + α7SHOCKit + u d it (20) (28)Cooper and Haltiwanger [9] have shown the importance of idiosyncratic shocks as a determinant of investment behavior.”
Uncertainty and Investment Dynamics (2006, neutral): “For the simulation we assume the (cid:133)xed cost of adjustment for either type of capital is 5% of annual sales, which is approximately calibrated on a monthly basis from the annual estimates in Cooper and Haltiwanger (2006).”
A Unified Theory of Tobin's Q, Corporate Investment, Financing, and Risk Management (2011, neutral): “See for example Cooper and Haltiwanger (2006) and Riddick and Whited (2009), among others.”
Intangible Capital and the Investment-q Relation (2017, methodology): “First, we estimate production-function curvature using the methods of Cooper and Haltiwanger (2006) and Olley and Pakes (1996). Comparing the curvature estimates across subsamples, we find no statistically significant differences in economies of scale between the high- and low-intangible quartiles.”
Cash Holdings and R&D Smoothing (2011, neutral): “This finding is consistent with firms having much less need to smooth physical investment with costly cash holdings, in part because physical capital adjustment costs are relatively “modest” (e.g., Cooper and Haltiwanger (2006)).”
How Q and Cash Flow Affect Investment without Frictions: An Analytic Explanation (2011, background): “where the first equality follows from equation (11) and the second equality follows from equations (9) and (10).”