augmented to include incomplete information about credit risk. Austerity is defined as the shortfall of consumption from the … more favourable loan package; that it is associated with over-investment even when investment does not create collateral …; and that low risk borrowers may favour more to less severe austerity. These findings imply that the amount of fresh funds …

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

guarantee existence. When investment adjustment costs are introduced, the monetary and fiscal policy dichotomy is in principle …

emerging markets. The paper measures the risk of short-term exposure by estimating, at the firm level, the effect on investment …Substantial attention has been paid in recent years to the risk of maturity mismatch in emerging markets. Although this … risk is microeconomic in nature, the evidence advanced thus far has taken the form of macro correlations. This paper …

investment affects some key macro variables, namely, market sector gross value added (MGVA), business investment, capital and … appears unaffected: investment rates are flat, and productivity has slowed down. We investigate whether measurement issues … as intermediate consumption. Thus they do not count as either GDP or investment. We ask how treating such spending as …

We argue that, in a simple setting, the relation between the intensity of competition and cost-reducing investment is U … show that, except for firms that are much less efficient than the competitor, investment in the subgame-perfect equilibrium …

or positive effects on R&D-investment, respectively. Both possibilities arise in plausible situations, even if one uses … on investment more likely. Extending the basic framework, the paper shows that separation of ownership and control …, endogenous entry and cumulative investments make positive effects of competition on investment more likely. Imperfect upstream …

on own effort and negatively on the effort of competitors. Such auctions arise naturally in the context of investment … the strategic situation of a two-stage game with investment preceding homogenous Bertrand competition. We obtain …

adjustment function implies that aggregate investment is relatively unresponsive to aggregate shocks in deep recessions as …

This paper provides empirical evidence on the dynamic effects of uncertainty on firm-level capital accumulation. A … novelty in this paper is that the firm-level uncertainty indicator is motivated and derived from a theoretical model, the … neoclassical investment model with time to build. This model also serves as the base for the empirical work, where an error …