Capital income tax policy affects investment by the parent and affiliates of multinational corporations (MNCs). In a … model in which technical advances are embodied in new capital, investment will translate directly into productivity gains … 1992, due to productivity growth in MNCs with Canadian affiliates; (3) the investment elasticity of productivity growth is …

We consider nonparametric identification and estimation in a nonseparable model where a continuous regressor of … endogenous assignment variable (like previous earnings). We provide new results on identification and estimation for these …

nonparametric estimation (e.g. Imbens et al. (2012) and Calonico et al. (2014)) are sometimes interpreted by practitioners as … pointing to a default estimation procedure, we show that in any given application different procedures may perform better or …

In this paper we derive a model of aggregate investment that builds from the lumpy microeconomic behavior of firms … aggregate investment obtained from adding up the actions of firms subject to aggregate and idiosyncratic shocks, is highly non … postwar sectoral U.S. manufacturing equipment and structures investment. For a given sequence of aggregate shocks, the …

This paper is a contribution to the small but growing literature that compares the investment and R&D behavior of … of a simple error-corrected investment model for both ordinary investment and for R&D investment, a model that … incorporates both output (sales or turnover) and cash flow as predictors for investment. Our focus is on two comparisons: France …