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• Κασκαρέλης, Ιωάννης Α.

This paper attempts to provide a brief survey on macroeconomic theories which deal with externalities, refer to the empirical testing of these theories and investigates the existence of investment accelerator in Greek manufacturing industry. Investment accelerator could arise as a learning process in the economy, which implies that agents learn about the state of the economy from the realisation of output and invest (and probably decide about employment) accordingly. Our aggregate data supports the existence of investment accelerator but not that of the employment one.

• Economics and Business
• Computer and information sciences

• Industries
• Macroeconomics
• Statistics

Περιέχει παράρτημα πινάκων και βιβλιογραφία, I am indebted to an anonymous referee whose stimulating comments and suggestions, considerably improved this paper. Any errors remain mine.