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Modèles d’investissement : une comparaison internationale des modèles à deux régimes

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  • Avouyi-Dovi, Sanvi

    (Service des études économiques et financières, Caisse des dépôts et consignations, Paris)

  • Leroux, Véronique

    (Banque Internationale de Placement, Paris)

  • Nicolaï, Jean-Paul

    (Service des études économiques et financières, Caisse des dépôts et consignations, Paris)

Abstract

Traditional investment equations do not provide satisfactory results when recent years are included in the estimation period. After reviewing the traditional specifications of investment models, we estimate multi-regime FBCF equations for firms in West Germany, United States, France and Japan. Except for West Germany, the results obtained from the traditional accelerator-profit model were not significantly improved by the use of models with several regimes. The poorness of the profit model perhaps explains those results. Les équations traditionnelles d’investissement donnent des résultats peu satisfaisants dès lors que l’on intègre les années récentes dans la période d’estimation. Après un rappel des spécifications traditionnelles et des développements récents des modèles d’investissement, nous avons estimé les équations de la FBCF des entreprises dans le cadre des modèles à plusieurs régimes pour l’Allemagne fédérale (ex-RFA), les États-Unis, la France et le Japon. À l’exception de la RFA, l’utilisation des modèles à plusieurs régimes ne nous a pas permis d’améliorer fondamentalement les résultats obtenus avec le modèle traditionnel accélérateur-profit. La pauvreté du modèle de profit explique peut-être ces résultats.

Suggested Citation

  • Avouyi-Dovi, Sanvi & Leroux, Véronique & Nicolaï, Jean-Paul, 1993. "Modèles d’investissement : une comparaison internationale des modèles à deux régimes," L'Actualité Economique, Société Canadienne de Science Economique, vol. 69(2), pages 41-52, juin.
  • Handle: RePEc:ris:actuec:v:69:y:1993:i:2:p:41-52
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