Question
http://sendanywhe.re/LHV530RF Read the article by Larry Neal (1969), Investment Behavior by American Railroads: 1897-1914 in The Review of Economics and Statistics . Without worrying too
http://sendanywhe.re/LHV530RF
Read the article by Larry Neal (1969), "Investment Behavior by American Railroads: 1897-1914" in The Review of Economics and Statistics. Without worrying too much about the specifics of the econometrics, answer the following:
A)What is his main conclusion regarding investment behaviour by firms in the railroad industry over this period? Are there differences based on which years he examined?
B)How does this relate to the investment function derived by N. Gregory Mankiw?
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The Economics of Public Issues
Authors: Roger LeRoy Miller, Daniel K. Benjamin, Douglass C. North
19th edition
134018974, 134018973, 9780134020532 , 978-0134018973
