Agent-Based Model with Capital and Credit (hereafter CC-MABM). The novelty of this model with respect to the previous … framework consists in the introduction of capital goods that firms producing consumption goods (C-firms) purchase from capital … goods producers (K-firms). The introduction of durability (in the form of capital which depreciates gradually) has important …

with insecure property rights, we analyze how resources are transformed into productive capital to sustain consumption. We … allow property rights to improve as the country transforms natural resources into capital. The ensuing power struggle about … result, the country substitutes away from resources to capital too rapidly and invests more than predicted by the Hartwick …

This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is … Pesaran (2003), an optimal aggregate function is derived, and the limiting behavior of the aggregation error is investigated … which ‘observed’ inflation persistence at the aggregate level is due to aggregation and/or common unobserved factors. Our …

significant impact. Finally, either regulatory instrument may induce the highest technology investment levels. …

We demonstrate that the choice of the transfer price and its effect on intra-firm trade and investment depends on the …

general equilibrium effects operating through the international capital market affect this Green Paradox. In a two-region, two …-period world with identical homothetic preferences and without investment, the global interest rate falls and the Green Paradox … weakens. With investment or a relatively more impatient oil-importing region, the Green Paradox may be strengthened because …

There is a lack of clear evidence of the ways in which dividend taxation affects dividend distributions and investment …

The paper studies the interaction between cyclical uncertainty and investment in a stochastic real option framework … of the link between cyclical uncertainty and investment is quantified using simulations of the model. The chief …

to invest compared to autarky. The investment levels remain inefficient though. With generation facilities over-investment … occurs sometimes, while systematic under-investment occurs for transportation facilities. Free-riding reduces the incentives … investment. …