This is confirmed both numerically for a model with a rich mix of adjustment costs, time-varying uncertainty, and aggregation over investment decisions and time and also empirically for a panel of manufacturing firms. These "cautionary effects" of uncertainty are large-going from the lower...
Uncertainty, Financial Frictions, and Investment Dynamics Micro- and macro-level evidence indicates that fluctuations in idiosyncratic uncertainty have a large effect on investment; the impact of uncertainty on investment occurs primarily through changes in credit spreads; and innovations in cr... Simon ...
Uncertainty, Firm Entry, and Investment Dynamics economic uncertaintyfinancial frictionsfirm entryGreek crisisidiosyncratic volatilityinvestment dynamicsPrevious macroand micro锕峞vel evidence indicate that fluctuations... S Giannoulakis - 《Scottish Journal of Political Economy》 被引量: 0发表: 2021年 Financ...
In testing for the uncertainty effects, we have specified a simple reduced form model for investment in this section. Our main goal is to point out the relationship between uncertainty and investment, adopting an empirical specification that allows for simple investment dynamics may be a useful star...
Bloom, N., Bond, S., & Van Reenen, J. (2007). Uncertainty and investment dynamics.Review of Economic Studies, 74, 391–415. ArticleGoogle Scholar Bodman, P. M. (2001). Steepness and deepness in the Australian macroeconomy.Applied Economics, 33(3), 375–382. ...
Bloom N, Bond S, Van Reenen J (2007) Uncertainty and investment dynamics. Rev Econ Stud 74(2):391–415 Article Google Scholar Brogaard J, Detzel A (2015) The asset-pricing implications of government economic policy uncertainty. Manag Sci 61(1):3–18 Article Google Scholar Bruno G, Lup...
We consider the optimal capital accumulation policy of a competitive firm operating in the presence of decreasing returns to scale, price uncertainty, and ... LHR Alvarez - 《Journal of Economic Dynamics & Control》 被引量: 26发表: 2011年 Investment and firm dynamics In this paper I ask wheth...
Uncertainty and investment dynamics 10.1111/j.1467-937X.2007.00426.x Google Scholar Caggiano et al., 2014 G. Caggiano, E. Castelnuovo, N. Groshenny Uncertainty shocks and unemployment dynamics in US recessions 10.1016/j.jmoneco.2014.07.006 ...
Real options and the management of R&D investment: an analysis of comparative advantage, market structure, and industry dynamics in biotechnology Real options are used to analyze the US comparative advantage in biotechnology R&D and production, and the pattern of biotechnology industry dynamics characteriz...
Irreversibility and uncertainty increase the user cost of capital which tends to reduce the capital stock. Working in the opposite direction is a hangover ... AB Abel,JC Eberly - 《Review of Economic Studies》 被引量: 1048发表: 1996年 Plant-level adjustment and aggregate investment dynamics - ...