Showing 1 - 10 of 56
One of the most serious problems that a central bank in an emerging market economy can face is the sudden reversal of capital inflows. Hoarding international reserves can be used to smooth the impact of such reversals, but these reserves are seldom sufficient and always expensive to hold. In...
Persistent link: https://www.econbiz.de/10010280879
We consider to what extent the empirical failings of the Q model of investment can be attributed to the use of share … deviate significantly from fundamental values. Controlling for this, we find no evidence that the Q model of investment is …
Persistent link: https://www.econbiz.de/10010293012
We derive robust predictions on the effects of uncertainty on short run investment dynamics in a broad class of models … of the capital stock is ambiguous. An investment model is estimated to test these theoretical predictions using a panel …
Persistent link: https://www.econbiz.de/10010293014
We examine in an experiment the causes, consequences and possible cures of myopic loss aversion (MLA) for investment … behaviour under risk. We find that both, investment horizons and feedback frequency contribute almost equally to the effects of … MLA. Longer investment horizons and less frequent feedback lead to higher investments. However, when given the choice …
Persistent link: https://www.econbiz.de/10010293429
guarantee existence. When investment adjustment costs are introduced, the monetary and fiscal policy dichotomy is in principle …
Persistent link: https://www.econbiz.de/10010293451
In this paper we analyse the impact of policy uncertainty on foreign direct investment strategies. The paper follows …
Persistent link: https://www.econbiz.de/10010295367
same conclusions concerning the investment behaviour of German manufacturing firms based on the Deutsche Bundesbank …'s Corporate Balance Sheet Statistics. Investment is strongly positive dependent on lagged investment and Q. Nevertheless, in …
Persistent link: https://www.econbiz.de/10010295751
Business cycles reflect changes over time in the amount of trade between individuals. In this paper we show that incorporating explicitly intra-temporal gains from trade between individuals into a macroeconomic model can provide new insight into the potential mechanisms driving economic...
Persistent link: https://www.econbiz.de/10010307846
Recent developments in investment research have highlighted the importance of non-convexities and irreversibilities in … and structures and construct measures of fundamental Q to capture investment opportunities associated with each asset. To … uncover the pattern of dynamic adjustment we use non-parametric techniques to relate each individual investment to own …
Persistent link: https://www.econbiz.de/10011325051
Short-term auctions for access to entry terminals of the British gas-network appear to successfully allocate scarce resources and capture scarcity rent. Now long-term auctions are being introduced to guide future capacity expansion decisions. In our model the fraction of rights issued in the...
Persistent link: https://www.econbiz.de/10011325061