Wait-and-See: Investment Options under Policy Uncertainty

This paper develops a model of investment decisions in which uncertainty about a one-time change in tax policy induces the firm to temporarily stop investing--to adopt a wait-and-see policy. After the uncertainty is resolved, the firm exploits the tabled projects, generating a temporary investment boom.

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Year of publication:	2013-11
Authors:	Stokey, Nancy L.
Institutions:	National Bureau of Economic Research (NBER)

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Extent:	application/pdf
Series:	NBER Working Papers.
Type of publication:	Book / Working Paper
Notes:	EFG The price is Paper copy available by mail Number 19630
Classification:	D92 - Intertemporal Firm Choice and Growth, Investment, or Financing ; E22 - Capital; Investment (including Inventories); Capacity ; E32 - Business Fluctuations; Cycles ; H32 - Firm
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010951243