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BPEA Article

Business Investment in the 1970s: A Comparison of Models


THE INVESTMENT BOOM THAT PERSISTED throughout the late nineteensixties
is now over. Whether private spending for fixed capital, after allowance
for rising prices, will increase at all in 1971 is an open question at
this point. This paper attempts to supply an answer and to look a bit further
ahead, into 1972 and early 1973.


Robert Hall

Robert and Carole McNeil Senior Fellow - Hoover Institution

Professor of Economics - Stanford University

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