answers and can be used to estimate market power and pass through rates. I show that even a naive one-sided model that ignores …

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. …

subsidies. -- Labor taxation ; human capital investment ; education subsidies ; idiosyncratic risk ; risk properties of human …

The paper analyses adverse investment, growth and distributional effects of ultra-loose monetary policies based on the … substitute real investment by financial investment. When interest rates are expected to fall in the long term, the marginal and …

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

uncertain fuel market returns. Without uncertainty, the unilateral investment tax is welfare-neutral: costless but ineffective … divestment. With uncertainty, the regional investment choice affects global fuel usage, and correspondingly the optimal regional … fuel policy contains a investment tax in addition to taxes on deposit supply and consumption. Even absent terms …