will transmit into a decline of investment. This paper shows that the microeconomic foundation of this 'balance …

consumption being higher than output, and negative comovement in aggregate investment and employment. This paper shows … productivity shocks across countries, competing with the standard, `resource allocationeffect'. Moreover, a countryspecic …

What determines the firm's choice of its mechanism of investment financing? How is the choice of the firm's financing … model of the credit market where the equilibrium lending mechanism, as well as the economy's aggregate investment and output …, are endogenously determined. Among other things, our model predicts that a negative productivity shock can cause an …

Business support policies designed to raise productivity and employment are commonworldwide, but rigorous micro … positiveprogram treatment effect on employment, investment and net entry but not on TFP. OLSunderestimates program effects because the … insome respects investment subsidies can be cost effective.... …

[...]One important theme, common to both views, is thatinvestment is a fundamental part of the growth process.Investment … investment good since software code is adurable asset that contributes to production over several years.[...] …

plausible estimates with small standard errors. Decision ruleestimates show that productivity beliefs affect investment and exit … idiosyncraticproductivities and update productivity beliefs using information revealed by their productionexperience. The estimator relies on the … industry. Estimation of productivity dynamics and of behavioraldecision rules are separated into recursive stages. Using …

dispersion in the rates of return to investment. During bubbly episodes, unproductiveinvestors demand bubbles while productive … investors supply them. Because of this, bubbly episodeschannel resources towards productive investment raising the growth rates … of capital and output. Themodel also illustrates that the existence of bubbly episodes requires some investment to be …