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Climate change mitigation and ecosystem services : A stochastic analysis
Lontzek, Thomas S.; Narita, Daiju - Institut für Weltwirtschaft (IfW) - 2010
of agent’s risk aversion. Also, uncertainty exhibits different effects on mitigation policy and capital investment …
Persistent link: https://www.econbiz.de/10008480915
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The effect of uncertainty on decision making about climate change mitigation. A numerical approach of stochastic control
Lontzek, Thomas S.; Narita, Daiju - Institut für Weltwirtschaft (IfW) - 2009
We apply standardized numerical techniques of stochastic optimization (Judd [1998]) to the climate change issue. The model captures the feature that the effects of uncertainty are different with different levels of agent's risk aversion. A major finding is that the effects of stochasticity...
Persistent link: https://www.econbiz.de/10005034303
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Multinational versus national firms on capital adjustment costs: A structural approach
Lapatinas, Athanasios - Institut für Weltwirtschaft (IfW) - 2015
ownership and capital demand adjustment in host countries. The author estimates a dynamic structural model of investment on a …
Persistent link: https://www.econbiz.de/10011263001
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Does inflation harm corporate investment? Empirical evidence from OECD countries
Ciżkowicz, Piotr; Rzońca, Andrzej - Institut für Weltwirtschaft (IfW) - 2012
Theoretical models point at various channels of the impact of inflation on corporate investment. This article attempts … corporate investment and inflation on the sample of 21 OECD countries in the years 1960-2005. The obtained negative relationship … relationship: marginal effect on corporate investment is higher at inflation rates between 3 and 5.5 per cent. These results …
Persistent link: https://www.econbiz.de/10010983175
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On the power and weakness of rational expectations: Logical fallacies, periodic bubbles and business cycles
Gracia, Eduard - Institut für Weltwirtschaft (IfW) - 2012
A popular interpretation of the Rational Expectations/Efficient Markets hypothesis states that, if the hypothesis holds, then market valuations must follow a random walk. This postulate has frequently been criticized on the basis of empirical evidence. Yet the assertion itself incurs what we...
Persistent link: https://www.econbiz.de/10010956093
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Endogenous Indexing and Monetary Policy Models
Mash, Richard - Institut für Weltwirtschaft (IfW) - 2007
Models in which firms use a rule of thumb or partial indexing in price setting are prominent in the recent monetary policy literature. The extent to which these firms adjust their prices to lagged inflation has been taken as fixed. We consider the implications of firms choosing the optimal...
Persistent link: https://www.econbiz.de/10005083332
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Modeling the Effects of Financial Constraints on Firm´s Investment
Tomat, Gian Maria - Institut für Weltwirtschaft (IfW) - 2007
The paper develops a model of firm´s investment under uncertainty with financial market imperfections and analyzes the … effects of financial constraints on firm´s investment. Firm´s investment is an increasing function of the firm´s marginal q …, however the investment function is characterized by an upper bound that depends on the firm´s borrowing capabilities. The firm …
Persistent link: https://www.econbiz.de/10005083386
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Production Constraints and the NAIRU
Driver, Ciaran F.; Hall, Stephen G. - Institut für Weltwirtschaft (IfW) - 2007
1980s as industry failed to match the increase in labour flexibility with rising capital investment. …
Persistent link: https://www.econbiz.de/10005083405
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Making sense of the J-curve: Capital utilisation, output, and total factor productivity in Polish industry 1990 - 1993
Falk, Martin; Raiser, Martin; Brauer, Holger - Institut für Weltwirtschaft (IfW) - 1996
The economies of Central and Eastern Europe are undergoing a period of rapid structural change. The general pattern confirms to the J-curve anticipated by several observers at the start of transition. This paper conceptualises the J-curve as the result of a combination of two factors. First,...
Persistent link: https://www.econbiz.de/10009276341
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Transfers and transition: The impact of government support on factor demand and production in Eastern Germany
Gerling, Katja - Institut für Weltwirtschaft (IfW) - 1998
factor prices on investment, employment and output in the eastern German manufacturing sector. The principal aim is twofold …
Persistent link: https://www.econbiz.de/10009276647