implications of the theory literature on this topic in an empirical study of the US cement industry between 1994 and 2006. Firms in … these markets via both domestic production and imports. Consistent with the theory, we find a negative relationship between …

firms' investment decisions. We characterize the conditions under which fire sales occur in equilibrium and their … consequences on firms' investment decisions. We also show that endogenous financial crises may arise in this environment, with …

multinational enterprise regarding the cross border distribution of its investment and the choice of its financing behavior. We …

-enhancing as it increases capital investment. This holds for any tax level and any recycling of the tax revenues except for …

This paper identifies the mechanism through which financial crises exert long-term negative effects on output. Theory ….2% higher today if productivity-enhancing investment intensity had remained at its pre-crisis level …

The paper studies the interaction between cyclical uncertainty and investment in a stochastic real option framework … of the link between cyclical uncertainty and investment is quantified using simulations of the model. The chief …

encroacher's valuation of the asset is increasing in the asset owner's investment. Due to incomplete property rights, the … encroacher and asset owner engage in a contest over the control of the asset after investment has taken place. A standard result … is that the asset owner will underinvest in the asset relative to the first-best level of investment when property rights …