Using firm-level data, we provide evidence that, although monetary policy affects real investment, the effect operates …

The best predictor of current investment at the firm level is lagged investment. This lagged-investment effect is … empirically more important than the cash-flow and Q effects combined. We show that the specification of investment adjustment … costs proposed by Christiano, Eichenbaum and Evans (2005) predicts the presence of a lagged-investment effect and that a …

-interpretation of steady-state conditions. The main difference is its focus on investment, which is after all, the heart of growth …

Which investment model best fits firm-level data? To answer this question we estimate alternative models using … implication, that Q is a sufficient statistic for determining a firm's investment decision, has been often rejected because cash …-flow and lagged-investment effects are present in investment regressions. However, we find that these regression results are …

profitable investment strategy. Thus, the ability to recognize trends in stock markets influences the quality of investment …

unemployment is positively associated with conservatism in countries where wage-setting is non-atomistic but not in the countries …

model of R&D, and positively related to the stock market valuation of patented innovations held by firms. …