We argue that positive co-movements between land prices and business investment are a driving force behind the broad … joint dynamics of land prices and business investment …

a dynamic multicountry model of international trade, production, and investment to data from 19 countries to assess this … resolving a number of the puzzles: The dependence of domestic investment on domestic saving falls by half or disappears entirely …

investment. We develop a model that includes land in the production function. We show that in this model movements in land prices … between land and capital is greater than one. We then estimate an aggregate investment function. Consistent with an elasticity … movements in land prices explain relatively little of the movement in the business fixed investment. In addition to possibly …

The optimal investment to mitigate climate change crucially depends on the discount rate used to evaluate the … investment's uncertain future benefits. The appropriate discount rate is a function of the horizon over which these benefits … accrue and the riskiness of the investment. In this paper, we estimate the term structure of discount rates for an important …

The sensitivity of U.S. aggregate investment to shocks is procyclical: the initial response increases by approximately … counterexample to the claim that microeconomic investment lumpiness is inconsequential for macroeconomic analysis …

and study the effect of imperfect corporate control on asset prices and investment. We assume that firms are run by empire … aggregate free cash flow of the corporate sector is an important state variable in explaining asset prices and investment. We …-of-the-money put options. We show that the financial friction causes shocks to affect investment, and causes otherwise i.i.d. shocks to …

total factor productivity (TFP) coincidentally with large changes in hours and investment. This mismeasurement leaves …

, investment, average productivity and output up. This evidence contrasts sharply with the results reported in a large and growing …