This study tests for the presence of real options effects induced by uncertainty and (partial) irreversibility on fixed capital investment using Italian company data. The approach recognizes that firm-level investment spending may, itself, be aggregated over multiple investment decisions in...

Drawing on recent research, this study elaborates on the role of the IMF in support of its low-income members, pointing to the global character of the institution and to its superior ability - given its multilateral nature - to serve as a financial institution, an information provider, and a...

This study investigates the relationship between uncertainty and investment using U. K. data at different levels of aggregation. Motivated by a comparative econometric analysis using a firm-level panel and aggregate time-series data, we analyze the implications of aggregating nonlinear...

At the end of May 2012, the Po plain region in northern Italy was shaken by a long sequence of seismic events. The 2012 Northern Italy earthquake sequence counted two mainshocks, about 1,600 aftershocks and lasted for several weeks. Although the mainshocks, which occurred on May 20 and May 29,...