decline of output, investment, stock prices, and interest rates, and an increase in the expected return on risky assets. The … level and cyclicality of credit spreads, and in particular the relation between investment and credit spreads. JEL …

This paper studies the effects of monetary policy on the investment behaviour of various categories of Italian firms … collateral are more affected by monetary policy. In quantitative terms, the difference in the response of investment by different …

We formulate and estimate a structural model of firm investment behavior that specifies the exact channel through which … that both real and financial frictions have an important effect on firm investment dynamics. JEL Classification: E22 …

We present a comparable set of results on the monetary transmission channels on firm investment for the four largest … channel. For each of those countries we estimate neo-classical investment relationships, explaining investment by its user … cost, sales and cash flow. We find investment to be sensitive to user cost changes in all those four countries. This …

investment from 1990 to 1999 through the cost-of-capital and the cash-flow channels. We compare several specifications of neo …

We estimate the effect of demand and price uncertainty on firms’ investment decisions from a panel of manufacturing … investment, while price uncertainty is insignificant. This is consistent with the behavior of monopolistic firms with … irreversible capital (Caballero, 1991). Further, firms revise their investment plans very little. They may do so in response to new …

output changes. In the euro area investment is the predominant driver of output changes, while in the U.S. consumption shifts … investment, as the proximate cause for this fact, the source of the consumption difference remains a puzzle. JEL Classification …

firms' investment ratio. Changes in user costs are significantly affected by changes in the monetary policy indicator. In … addition, firm specific balance sheet characteristics, such as the lagged cash stock to capital ratio influence the investment …

This paper investigates the effects of monetary policy on firms' investment behaviour. The analysis relies on a …. First, we estimate a reduced-form investment equation derived from the neo-classical model, augmented by cash flow. This …