We study the effects of monetary-policy-induced changes in Tobin's q on corporate investment and capital structure. We … develop a theory of the mechanism, provide empirical evidence, evaluate the ability of the quantitative theory to match the … evidence, and quantify the relevance for monetary transmission to aggregate investment …

Using a general-equilibrium simulation model featuring nominal rigidities and monopolistic competition in product and … labor markets, this paper estimates the macroeconomic benefits and international spillovers of an increase in competition …, greater competition produces large effects on macroeconomic performance, as measured by standard indicators. In particular, we …

We consider how past, current, and future competition within an elimination tournament affect the probability that the … our theory predictions using data from high-stakes tournaments. Empirical results suggest that shadow and spillover …

competition affect the incentives given to scientists, and these effects interact. First, high knowledge spillovers lead firms to … soften incentives when product market competition is high, and to strengthen incentives when competition is low. Second, the … relationship between the intensity of competition and the power of incentives is U-shaped, with the exact shape depending on the …

rise to a "multiplier." Since such "multipliers" are ignored by firms making investment decisions, privately optimal … investment choices under uncertainty will not in general be socially optimal. Under reasonable conditions, private investment is …

This paper suggests that the use of investment incentives focusing exclusively on foreign firms, although motivated in … skills to local industry is not an automatic consequence of foreign investment. The potential spillover benefits are realized … subsidization of foreign investment, it is therefore necessary, at the same time, to support learning and investment in local firms …

discussion is guided by a new model of foreign direct investment, trade, and endogenous technology transfer. We find evidence for …

In this article we develop a model to analyze patent-protected R&D investment projects when there is (imperfect …) competition in the development and marketing of the resulting product. The competitive interactions that occur substantially … these interactions. Implementation of the model shows that competition in R&D, in general, not only increases production and …