We show that credit supply shocks have a strong impact on firm-level as well as aggregate investment by applying the … are found to impair firm-level investment in all firms in our sample, but in particular for small firms and those with no … 20–40% of aggregate investment dynamics. …

the low carbon-emitting sector, and (ii) reduce real investment and the capital stock in the highly carbon-emitting sector …, while real investment in the sector with low carbon emissions tends to fare better. To apply the theoretical predictions to … low carbon emissions, and (ii) substantial investment reallocation takes place, in particular from the manufacturing …

motives for investment. Specifically, firms invest to expand capacity and to replace old machines. The model considers … irreversible investment under uncertainty and embodied technological progress. It is shown to be consistent with the following … empirical observations: Investment is lumpy and infrequent at the firm level; firms can invest even if they have not reached …