Nordhaus framework as a key input into optimal patent policy design: namely, what is the elasticity of R&D investment with …

, 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 …

, progressive taxation as well as investment and output subsidies to the entrepreneurial sector …

The Q-theory of investment says that a firm's investment rate should rise with its Q. We argue here that this theory … also explains why some firms buy other firms. We find that 1. A firm's merger and acquisition (Mamp;A) investment responds … to its Q more -- by a factor of 2.6 -- than its direct investment does, probably because Mamp;A investment is a high …

This essay surveys the body of research that asks how the efficiency of corporate investment is influenced by problems … that the marginal return to investment in firm i is the same as the marginal return to investment in firm j? Second, do … capital budgeting process get within-firm allocations right, so that the marginal return to investment in firm i's division A …

Kaplan and Zingales [1997] provide both theoretical arguments and empirical evidence that investment-cash flow …

expectations regarding endogenous outcomes can emerge as a purely self-fulfilling equilibrium property when investment choices are … significant heterogeneity in real and financial investment choices, even in the absence of any heterogeneity in individual … fluctuations in aggregate investment and asset prices, including fluctuations that are smoother than those often associated with …

We propose an empirical implementation of the consumption-investment problem using the martingale representation … simplifies the investor's task of specifying the investment opportunity set and inherits the computational convenience of the …