combinaison of the following elements : (i) Irreversibility of capital, technology and skill decision, (ii) Firm specific shocks … under capital irreversibility. …

age and usage dependent capital depreciation and obsolescence. It is also shown that in this set-up past investment …. More importantly, and in contrast to the pre-existing literature, we study investment and maintenance co-movements without … any postulated ad-hoc depreciation function. In particular, we find that optimal investment and maintenance do move …

drop in investment and in the current account, in line with empirical evidence, only if the traded sector is more capital …

) non-separability in preferences between consumption and labor, and ii) traded investment. …

This paper investigates erapirically the influence of uncertainty on corporate investment. Uncertainty of demand …, output prices and investment prices are measured by the standard deviation of (pre-)filtered Belgian (1984-1992) and Spanish … (1983-1993) panel data, and included as explanatory variables in the investment equations derived from a neo-classical model …

reconciled in a very general theoretical framework featuring firm-level heterogeneity and investment decision. Three main … elements determine the nature and the intensity of the relationship between firm-level size and investment: the shape of … operating profits with respect to size, the shape of marginal returns to investment (in terms of size) with respect to initial …

irreversibility of human capital, physical capital and technology with idiosyncratic productivity shocks. Irreversibilities and …