Fung, Ka Wai Terence; Lau, Chi Keung Marco; Chan, Kwok Ho - Volkswirtschaftliche Fakultät, … - 2013
investment opportunities in another sector) and financial intermediation (shocks to the cost of raising capital in the financial …. Additionally, the investment oversensitivity problem is corrected. However, only the financial intermediation model is consistent … with the observed finding that volatility of R&D is larger than that of investment and output. …