@techreport{Janz1997Interpreting,
abstract = {In this paper the standard Euler equation investment model with
imperfectly competitive product markets is extended for imperfectly competitive
structures on the factor markets: labour markets and markets for investment
goods. This extension leads to two additional explanatory variables in
the Euler equation. Although economically reasonable, the resulting equation
for a simple reason cannot be estimated: parts of the explanatory variables are
perfectly collinear. For estimation purposes at least one of these variables has
to be neglected. Neglecting one of the additional variables, the coefficients to be estimated have to be interpreted as linear combinations of the 'true' coefficients.
The differences between the 'true' coefficients and the linear combinations are
numerically demonstrated.},
address = {Mannheim},
author = {Norbert Janz},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {E22; C50; D92; 330; Firm Investment Behaviour; Euler Equation Model; Investition; Gesamtwirtschaftliche Investitionstheorie; Sch\"{a}tztheorie; Theorie},
language = {eng},
number = {97-29},
publisher = {Zentrum f\"{u}r Europ\"{a}ische Wirtschaftsforschung (ZEW)},
title = {Interpreting estimation results of Euler equation investment models when factor markets are imperfectly competitive},
type = {ZEW Discussion Papers},
url = {http://hdl.handle.net/10419/24250},
year = {1997}
}