trade model with income-risk neutrality there tends to be an uncertainty-increasing motive for a TA. With income-risk … degree of risk aversion, an uncertainty-reducing motive for a TA is more likely to be present when the economy is more open …

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 …

with heterogeneous firms. We show that increased TPU reduces investment in export entry and technology upgrading, which in … theory-consistent measure of TPU and estimate that it can explain between 22-30% of Chinese exports to the US after WTO …

We analyze the impact of mandatory access on the infrastructure investments of two competing communications networks … preemption a higher access charge can delay first investment. Constant access tariffs cannot achieve the first best. Optimal time … allowing for lower future access charges, which delay the second investment. …

productivity and human capital investments. Using light intensity as an alternative measure for economic activity confirms the …

investments of banks at the security level for 2005-2012 in conjunction with the credit register from Germany. Analyzing data at … increase their overall investments in securities, especially in those that had a larger price drop. The quantitative effects …

This paper studies investment incentives in the steady state of a dynamic bilateral matching market. Because of search … frictions, both parties in a match are partially locked-in when they bargain over the joint surplus from their sunk investments … case of investments in homogenous capital only the agents on the short side acquire ownership of capital. There is always …

traders to arbitrageurs? We study firm business investment to address this question. In our model, benevolent managers of … with positive net present value. Empirically, we find a positive relation between investment and a number of proxies for … mispricing, controlling for investment opportunities and financial slack, suggesting that overpriced (underpriced) firms tend to …