investment goods in developing countries. One implication of our findings is that increased aid flows to developing countries …

on irreversible investment. Second, we apply our model to an analysis of the risk of separation of the province of Quebec … from the Canadian federation. We consider the investment decisions of a monopolistically competitive firm under uncertainty … about demand and about the tax-adjusted price of investment goods. We develop a model of irreversible investment which …

This Paper investigates the empirical relationship between uncertainty and investment dynamics. This is motivated by … the real options literature, which suggests a weaker response of investment to demand shocks at higher levels of … can be detected as a smaller impact of sales growth on investment for firms facing higher uncertainty. Using a stock …

’ because the tax liability is offset by a reduction in the post-tax risk of the investment. The Paper argues that this claim is … investment incentives in the presence of risk. Instead it proposes an alternative measure, based on the market value of the pre …

This Paper shows how microeconomic data on investment plans can be used to study the structure of risk faced by firms …. Revisions of investment plans form a martingale, and thus reveal the underlying shocks driving investment. We decompose … revisions in investment plans into micro, sector and aggregate shocks, and exploit stock market data to distinguish between …

product market, concerning in particular entry barriers, are negatively related to investment. The policy implication of our … analysis is clear: regulatory reforms, especially those that liberalize entry, are very likely to spur investment. …

fixed investment that became excessive and proved to be unsustainable, while the productivity acceleration helps to account …-01 collapse of investment and the stock market proves that good public policy matters, going beyond the narrowly defined …

been significant changes in saving and investment patterns across the world and imbalances have narrowed considerably. Does …

investment models must be attributable to movements in equity risk premia. In this Paper we emphasise that such movements in … equity risk premia should have implications not merely for investment today, but also for future investment over long …-horizon fluctuations in the growth of marginal Q, and therefore investment. We test this implication directly by performing long …