This paper estimates the micro-level costs of adjusting capital using detailed data onquot; investment decisions in the …; profitability. The results show clear evidence of non-convex adjustment costs inaction for capital investment and quadratic … adjustment costs conditional on positive or negativequot; investment. The adjustment costs for utilization show similar non …

We use the World Bank decomposition of aggregate investment shares into their private and public components to test for … the correlation between volatility and investment in a set of developing countries. We uncover a statistically significant … negative correlation between various volatility measures and private investment, even when adding the standard control …

that are highly levered, and when the investment community has diverse views on the benefit from changing a firm's current …

We use firm-level panel data to explore the extent to which fixed investment responds to tax reforms in 14 OECD … countries. Previous studies have often found that investment does not respond to changes in the marginal cost of investment. We … of them. In so doing, we find evidence of statistically and economically significant investment responses to tax changes …

) possible market power of dominant airlines, and (c) congestion and investment shortfall in the airport and air traffic …

Using plant-level data from Chile and the U.S. we show that investment spikes are highly pro-cyclical, so much so that … changes in the number of establishments undergoing investment spikes (the quot;extensive marginquot;) account for the bulk of … variation in aggregate investment. The number of establishments undergoing investment spikes also has independent predictive …

We develop a model of investment with financial constraints and use it to investigate the relation between investment … between q and investment, relative to the frictionless benchmark. We present a calibrated version of the model, which, due to … this effect, generates realistic correlations between investment, q, and cash flow …

significance. This paper derives highly tractable current account and investment specifications that we estimate without resorting … investment. It is a puzzle, however, for the intertemporal model that long-lasting local productivity shocks have a larger impact … effect on investment than on current account …

, investment in capital goods and a non-traded good. Such an environment is rich enough to explain several phenomena that are … inexplicable in more barren models. We suggest an explanation of why saving and investment may be correlated even with no … restrictions on trade in assets. We explain why a high saving country may nonetheless borrow from abroad to finance investment. We …