This paper presents a non-technical overview of the recent investment literature with a special emphasis on the … connection between technological progress and the investment decision. First of all, we acknowledge that some dramatic advances …. Nonetheless, this new literature has not satisfactorily accounted for the investment-specific (or embodied) nature of technical …

In this paper, we extend the usual models of irreversible investment under uncertainty by introducing the stock of … public capital as an input for the private sector. Public investment takes place in a stochastic environment. Public capital … equilibrium analysis, as it is standard in models of irreversible investment under uncertainty. Even under uncertainty, the …