This paper presents a threshold uncertainty investment model for Dutch firms. The proposed uncertainty measure is constructed as an empirical proxy for the standard real options multiple. The uncertainty measure serves as the threshold variable in estimating a piecewise linear accelerator...

The Berle-Means problem - information and incentive asymmetries disrupting relations between knowledgeable managers and remote investors - has remained a durable issue engaging researchers since the 1930's. However, the Berle-Means paradigm - widely-dispersed, helpless investors facing strong,...

The paper discusses a parameterization of model-consistent expectations in nonlinear dynamic monetary policy growth models. Two models that cannot be solved analytically due to the inclusion of a stochastic process are discussed. In the first one, money provides services as a means of payment...