that anticipate the actual tax base incorrectly. I analyze the effects of stochastic taxation on investment behavior in a … the effects of both tax base and tax rate uncertainty, the investment's tax payment is modelled as a stochastic process …. Increased tax uncertainty has an ambiguous impact on investment timing. The view that tax uncertainty depresses real investment …

equilibrium, general-equilibrium effects overturn this result: a monetary expansion increases the investment of high-productivity … their productivity and net worth and face collateral constraints that cause capital misallocation. TFP endogenously depends … firms relatively more than that of low-productivity ones, crowding out the latter and increasing TFP. We provide empirical …

capital (investment network). For each network, we document a declining fraction of production by goods sectors and a rising … investment production are substitutes, rather than strong complements as suggested by existing work. Hence, resources … endogenously reallocate toward the fastest growing producers of investment. Growth accounting exercises demonstrate that investment …

We derive exact conditions relating the distributions of firm productivity, sales, output, and markups to the form of … Marginal Revenue): it is necessary and sufficient for the distributions of productivity and sales to have the same form …

IT investment in any sectors, it does significantly improve labor productivity for firms in manufacturing and in …, cloud usage is expected to increase the productivity of firms, as it allows them to quickly customize the IT they require to …

resuscitate HOV by introducing a simple Hicks-neutral (HN) factor-productivity adjustment, an approach that was heavily criticized …. In this paper, we re-examine the productivity question by estimating factor-specific productivities from the individual … technology data of multiple countries. Using a dataset of 29 countries, both developed and developing, we find evidence of factor …

lifetime, regardless of current electricity prices. We then estimate that the productivity of energy inputs is persistently … explain the effects of entry-year electricity prices on subsequent energy intensity. We discuss how this “technology lock …

This paper studies the effect of structural change on the historical path of aggregate labor productivity growth for a … that structural change may have on future productivity growth. We document that the observed reallocation of economic … activity since the 1970s towards the service sector has exerted a strongly negative effect on aggregate productivity growth in …