We contrast how monetary policy affects intangible relative to tangible investment. We document that the stock prices … total investment in firms with more intangible assets responds less to monetary policy, and that intangible investment … responds less to monetary policy compared to tangible investment. We identify two mechanisms behind these results. First, firms …

productivity and that they impact the degree of R&D spillovers …

costly adjustment of investment; (iv) persistence in the permanent technology shocks; (v) labor market friction with … and investment adjustment costs. A robustness test shows that the sticky price model becomes as competitive as the habit … formation and costly adjustment of investment model when sticky wages are included …

output fluctuations are decomposed into four sources: total factor productivity (TFP), a labor wedge, a capital wedge, and a …

productivity (TFP) is endogenized as a function of domestic research and development (R&D) expenditures, R&D expenditures of …

of international tax harmonization. The analytical framework adopts the saving-investment balance approach to the … differences in saving and investment propensities …