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On the Interaction of Financial Frictions and Fixed Capital Adjustment Costs: Evidence from a Panel of German Firms
Bayer, Christian - EconWPA - 2004
costs firms infrequently carry out discrete investment projects. Therefore, financial variables may influence investment in … two ways. Theoretically, they can alter the frequency at which investment projects are undertaken, or they can influence … finance on investment decisions is substantial. Consequently, finance primarily affects investment frequencies and accordingly …
Persistent link: https://www.econbiz.de/10005561248
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German Exchange Rate Exposure at DAX and Aggregate Level, International Trade, and the Role of Exchange Rate Adjustment Costs
Entorf; Jamin - EconWPA - 2005
This article analyses value changes of German stock market companies in response to movements of the US dollar. The approach followed in this work extends the standard means of measuring exchange rate exposure in several ways, e.g. by us-ing multi-factor modelling instead of augmented CAPM,...
Persistent link: https://www.econbiz.de/10005408197
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Adjustment Costs in a Two-Capital Growth Model
Duczynski, Petr - EconWPA - 2001
assumptions of large adjustment costs for human capital investment, moderate adjustment costs for physical capital investment, and …
Persistent link: https://www.econbiz.de/10005412690
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Productivity, adjustment costs and R&D investment prices An analysis of a panel of Spanish manufacturing companies
Pérez-López, Cesar; Romero-Jordan, Desiderio; … - EconWPA - 2004
This study analyses the role played by adjustment costs and R&D investment prices in total R&D productivity. The …
Persistent link: https://www.econbiz.de/10005556044
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The Promises and Perils of Agent-Based Computational Economics
Richiardi, Matteo - EconWPA - 2004
critiques against the use of simulation, which point to the following problematic areas: (i) interpretation of the simulation … dynamics, (ii) estimation of the simulation model, and (iii) generalisation of the results. I show that there exist solutions …
Persistent link: https://www.econbiz.de/10005125044
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A Laboratory Experiment of Knowledge Diffusion Dynamics
Morone, Piergiuseppe; Taylor, Richard - EconWPA - 2004
This paper aims to study, by means of a laboratory experiment and a simulation model, some of the mechanisms which …
Persistent link: https://www.econbiz.de/10005125585
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A Toolkit for Optimizing Functions in Economics
Goffe, William L. - EconWPA - 1997
Optimization algorithms must be among the most common numerical methods used by economists. Yet, there is surprisingly little guidance on choosing the appropriate one. This problem is most notable with regard to conventional versus global optimizers. Typically, a global optimizer is used when a...
Persistent link: https://www.econbiz.de/10005134567
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Long Memory Options: LM Evidence and Simulations
Jamdee, Sutthisit; Los, Cornelis A. - EconWPA - 2005
valuation by simple simulation. Many empirical researchers have observed the non-Fickian degrees of persistence or long memory …
Persistent link: https://www.econbiz.de/10005134830
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Quel prix pour les options UMTS? Une approche par les options réelles.
Bessière, Véronique; Kaestner, Michael - EconWPA - 2005
value of the investment opportunity. The investment is assumed to be instantaneous and the cash flows associated with the … investment are uncertain. This uncertainty of future cash flows might make it attractive to wait before investing even if the … investment should be undertaken. We simulate the impact of different variables (volatility, expected growth rate of cash flows …
Persistent link: https://www.econbiz.de/10005134911
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The New Italian Road Code and the virtues of the ‘shame lane’
Richiardi, Matteo - EconWPA - 2004
In July 2003 a new Road Code was approved by the Italian parliament. Among many reforms whose validity is not questioned here, the new law states that on three-lane motorways the right lane should not be reserved anymore to slow vehicles alone. As in two-lane roads, all vehicles must now drive...
Persistent link: https://www.econbiz.de/10005413007