Duhautois, Richard <br/><br/>
Heterogeneity in Investment Behavior and Changes in Aggregate Investment 

 -  2001.<br/>							 
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<br/><br/> This paper studies the characteristics of companies&amp;apos; investment profiles using a database covering a large number of French companies. Following the example of Doms and Dunne (1998) we construct two statistical methods making it possible to identify periods of zero investment and periods of substantial investment. It appears that investment is intermittent and extremely heterogeneous. This finding raises the question of whether it is relevant to assume a representative agent for an aggregate investment model. In order to test whether the heterogeneity of company investment contains information on changes in aggregate investment, we suggest indicators for this heterogeneity and then incorporate them in an aggregate investment equation.