distribution of investment rates. We then present two pieces of econometric evidence on these issues. First, we estimate a discrete … hazard model to determine the probability of having an episode of high investment, conditional on the length of the interval … from the last high investment episode and we discuss what the empirical results suggest about the shape of the adjustment …

This paper evaluates the effects of fiscal policy on investment using a panel of OECD countries. In particular, we … investigate how different types of fiscal policy affect profits and , as a result, investment. We find a sizable negative effect … of public spending -- and in particular of its public wage component -- on business investment. This result is consistent …

the efficient allocation of investment. In this paper we use a signal extraction framework to give empirical content to …-sectional distribution of investment widens. We then explore this hypothesis using panel data information for UK companies over twenty years …. Our data generally support the view that monetary instability may affect investment allocation through its effect on the …

efficiency with which investment funds are allocated. A summary index of the efficiency of investment allocation that measures … whether investment funds are going to firms with a higher marginal return to capital is developed. We examine the relationship … investment funds are allocated. This holds after various robustness checks and is consistent with firm level evidence that a …

development reduces the cash flow sensitivity of fixed investment spending, particularly for small firms, and that it increases …

We present evidence that an increase in investment as a share of GDP predicts a higher growth rate of output per worker … coefficients. They are robust to model specifications and estimation methods. The evidence that investment has a long-run effect on …

Has financial liberalization improved the efficiency with which investment funds are allocated to competing uses? In … investigate whether financial liberalization has increased the share of investment going to firms with a higher marginal return to … capital. To this end we develop a summary index of the efficiency of allocation of investment. We then examine the …

, resulted in lower investment, employment, and bank debt for younger and smaller firms. These effects dominate those of banks … aggregate investment and employment, and to a less efficient resource allocation. …