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Vintage capital growth models have been at the heart of growth theory in the 60s. This research line collapsed in the late 60s with the so-called embodiment controversy and the technical sophisitication of the vintage models. This paper analyzes the astonishing revival of this literature in the...
Persistent link: https://www.econbiz.de/10009644799
Does productivity increase with density? We revisit the issue usingFrench wage and TFP data. To deal with the … ‘endogenous quantity of labour' bias (i.e., urban agglomeration is consequence of high local productivity rather than a cause), we …
Persistent link: https://www.econbiz.de/10008793653
, gas, and renewable power plants). It finds that optimal investment in renewable energy may start before coal power has … been phased out and even before investment in gas has started, because doing so allows for smoothing investment over time … and reduces adjustment costs. Gas plants may be used to reduce short-term investment in renewable power and associated …
Persistent link: https://www.econbiz.de/10010890090
represented by the decrease in entropy of his beliefs, regardless of his preferences, initial wealth, or investment problem. We …
Persistent link: https://www.econbiz.de/10010930175
sector to study the impact of investment subsidies on equilibrium investment and output. Energy and capital are assumed to be … structures are considered for the energy market, free entry and natural monopoly. First, it is shown that investment subsidies … may induce a larger equilibrium investment into cleaner technologies either under free entry or natural monopoly. However …
Persistent link: https://www.econbiz.de/10009644796
contractual relationships that link exports from Sub-Saharan Africa to China and investment by Chinese firms in Sub-Saharan Africa … combine trade, aid and investment, which may create 'lock-in' effects. China's trade and investment focus on the commodities …, especially in oil-exporting countries. Chinese investment, however, increasingly involves other sectors, such as the …
Persistent link: https://www.econbiz.de/10009353553
adjustment costs on investment. …
Persistent link: https://www.econbiz.de/10010750394
Complicated neoclassical models predict that if investment is sensitive to current financial performance, this is a …, refers to the principle of "growth of the fitter" to explain investment-cash flow sensitivities as the workings of a healthy …
Persistent link: https://www.econbiz.de/10010750396
This paper presents a comparable set of results on the monetary transmission channels on firm investment (the interest … those countries,investment relationships are estimated explaining investment by its user cost, sales and cash flow.A first … result is that investment is sensitive to user cost changes in all those four countries. Thisimplies an operative interest …
Persistent link: https://www.econbiz.de/10010750630
In this paper we present comparable results on the determinants of firms' investment and their link to monetary policy …
Persistent link: https://www.econbiz.de/10010750645