pricing and the fund provides subsidies to reduce technology costs or to boost investment returns. The investment subsidy … the costs and benefits of abatement. Investors price uncertain assets according to their expected return and risk (carbon … beta). We study carbon pricing and financial incentives in a consumption-based asset pricing model distorted by technology …

This paper examines the stochastic behaviour of the realized betas within the one-factor CAPM for the six companies …

functional form of the conditional beta will inherit a nonstationary right hand side. Our approach uses the cointegrating …

How does uncertainty affect the costs of raising finance in the bond market and via bank loans? Empirically, this paper …

the framework of ‘the new quantitative trade model.’ We complement theory with a simple two-stage estimating procedure …

mechanism considered in the paper is based on that multiproduct shipments allow splitting fixed costs per shipment across many … products and, therefore, reducing total shipment costs. As a result, more developed countries tend to have lower fixed costs …-product shipments in determining shipping costs …

of immobile residents. Investment is costly: Quadratic installation and de-installation costs limit the mobility of … and effects of changes in installation costs are ambiguous …

shock. Our estimated model uncovers a central role for investment in the transmission mechanism of monetary policy, as high … MPCs amplify the investment response in the data. This force also generates a procyclical response of consumption to … investment shocks, leading our model to infer a central role for these shocks as a source of business cycles …

complementary investment in production activities. Our theoretical findings are motivated by existing empirical evidence and a fresh …

investment in an international infrastructure capital, the stock of which accumulates over time. Depending on the trade costs and …This paper develops a two-country model of intraindustry trade with trade costs, which can be reduced by public … country is affected by these trade patterns. Taking the relationship between trade costs and national welfare into …