level, raises the amount of investment per worker in the economy compared to a one-tier bargaining scheme, in which earnings … investment per worker and the presence of a two-tier bargaining agreement that we find in a representative sample of Italian …

The interest rate is generally considered as an important driver of macroeconomic investment. As an innovation, this … paper derives the exact shape of the "hysteretic" impact of changes in the interest rate on macroeconomic investment under … capital stock and, explicitly, of stochastic changes on the interest rate-investment hysteresis. Starting with hysteresis …

consider a hold-up framework where both parties profit from an investment that raises the value of an asset. Delegation turns …) decisions have no investment-independent effect. If overinvestment might be an issue, delegation, however, with restricted …

Sharing is a norm in many societies. We present a theoretical model on the trade-off between sharing and investment … patterns: entrepreneurs following an 'insurance regime' comply with sharing norms, are insured but reduce investment in their … firm, whereas entrepreneurs in the 'growth regime' are not insured but take undistorted investment decisions. The choice of …