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Trade and Investment under Policy Uncertainty: Theory and Firm Evidence
Handley, Kyle; Limão, Nuno - C.E.P.R. Discussion Papers - 2012
theory-based measure of policy uncertainty. Our novel approach using observable trade policies allows us to estimate the …
Persistent link: https://www.econbiz.de/10011083993
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Uncertainty and Company Investment Dynamics: Empirical Evidence for UK Firms
Bloom, Nicholas; Bond, Stephen Roy; Van Reenen, John - C.E.P.R. Discussion Papers - 2003
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 uncertainty, as firms place a greater value on the option to wait....
Persistent link: https://www.econbiz.de/10005666662
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Policy Uncertainty, Trade and Welfare: Theory and Evidence for China and the U.S.
Handley, Kyle; Limão, Nuno - C.E.P.R. Discussion Papers - 2013
theory-consistent measure of TPU and estimate that it can explain between 22-30% of Chinese exports to the US after WTO …
Persistent link: https://www.econbiz.de/10011083973
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Productivity Growth and the Structure of the Business Cycle
Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 1992
trend from the cycle. The results are mildly supportive of the OC theory. Demand shocks tend to have a negative impact on …
Persistent link: https://www.econbiz.de/10005666892
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Inventories, Production Smoothing and the Shape of the Cost Function
Galeotti, Marzio; Guiso, Luigi; Sack, Brian; … - C.E.P.R. Discussion Papers - 1997
In this paper we present estimates of inventory models based on firm level panel data and investigate whether an over-simplified specification of the production technology may account for the failure to find technological incentives to smooth production in the context of the standard...
Persistent link: https://www.econbiz.de/10005667011
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Political Risk And Irreversible Investment: Theory And An Application To Quebec
Altug, Sumru G.; Demers, Fanny S; Demers, Michel - C.E.P.R. Discussion Papers - 2000
Political risk is widely present in developing but also in developed countries, and stems from a variety of sources …. The objective of this paper is twofold. First, we develop a theoretical model to investigate the impact of political risk … on irreversible investment. Second, we apply our model to an analysis of the risk of separation of the province of Quebec …
Persistent link: https://www.econbiz.de/10005114366
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Agricultural Decisions after Relaxing Credit and Risk Constraints
Karlan, Dean S.; Osei, Robert; Osei-Akoto, Isaac; Udry, … - C.E.P.R. Discussion Papers - 2012
to farmer investment is uninsured risk: when provided with insurance against the primary catastrophic risk they face … basis risk associated with the index insurance, and with imperfect trust that promised payouts will be delivered. …
Persistent link: https://www.econbiz.de/10011083318
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On the Genesis of Multinational Foreign Affiliate Networks
Egger, Peter; Fahn, Matthias; Merlo, Valeria; Wamser, Georg - C.E.P.R. Discussion Papers - 2011
Multinational enterprises (MNEs) develop their networks of foreign affiliates gradually over time. Instead of exploring all profitable opportunities immediately, they first establish themselves in their home countries and then enter new markets stepwise. We argue that this behavior is driven by...
Persistent link: https://www.econbiz.de/10009246612
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An Empirical Study of the Cyclical Effects of Monetary Policy in Spain (1977-1997)
Dolado, Juan J.; María-Dolores, Ramón - C.E.P.R. Discussion Papers - 1999
In this paper, we provide empirical evidence for the Spanish economy, over the period 1977-97, on whether monetary policy shocks have had different effects on real output growth depending on the state of the business cycle. To do so, we adopt an extension of Hamilton's (1989) Markov Switching...
Persistent link: https://www.econbiz.de/10005662280
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Monopoly Power and the Firm's Valuation: A Dynamic Analysis of Short versus Long-Term Policies
Basak, Suleyman; Pavlova, Anna - C.E.P.R. Discussion Papers - 2002
This article develops a multi-period production model to examine the optimal dynamic behaviour of a large monopolistic value-maximizing firm that manipulates its valuation as well as the price of its output. In the pre-commitment equilibrium the firm’s output and labour demand are decreased,...
Persistent link: https://www.econbiz.de/10005666999