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Financial constraints and capacity adjustment in the United Kingdom: Evidence from a large panel of survey data
von Kalckreuth, Ulf; Murphy, Emma - 2005
relationship between investment activity and financial constraints is theoretically ambivalent due to simultaneity, the link … take longer to close capacity gaps. This indicates that financial constraints do indeed play a part in the investment …
Persistent link: https://www.econbiz.de/10010295669
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Financing constraints, firm level adjustment of capital and aggregate implications
von Kalckreuth, Ulf - 2008
Following a positive shock, financing constraints will prolong or impede economic expansion that would have been optimal in an unconstrained environment. The study of dynamic adjustment therefore offers a direct way of verifying the presence of financing constraints and assessing their...
Persistent link: https://www.econbiz.de/10010295882
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Driving factors of growth in Hungary - a decomposition exercise
Kátay, Gábor; Wolf, Zoltán - 2008
Applications tend to ignore that measured TFP reflects the variation of output that cannot be explained by changes in inputs. Such a change is not necessarily technological, so measured TFP differences across firms are an amalgam of technological, efficiency and other differences in attributes,...
Persistent link: https://www.econbiz.de/10010322437
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Capacity utilisation, constraints and price adjustments under the Microscope
Lein, Sarah M.; Köberl, Eva - 2009
This paper analyses the interplay of capacity utilisation, capacity constraints, demand constraints and price adjustments, employing a unique firm-level data set for Swiss manufacturing firms. Theoretically, capacity constraints limit the ability of firms to expand production in the short run...
Persistent link: https://www.econbiz.de/10010285797
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Capacity investment under demand uncertainty: An empirical study of the US cement industry, 1994-2006
Ponssard, Jean-Pierre; Thomas, Catherine - 2010
Uncertainty about the level of demand is thought to influence irreversible capacity decisions. This paper examines some implications of the theory literature on this topic in an empirical study of the US cement industry between 1994 and 2006. Firms in this sector have the ability to deliver...
Persistent link: https://www.econbiz.de/10010274906
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Input use and capacity constraint under uncertainty: The case of irrigation
Bontems, Philippe; Favard, Pascal - 2002
related to the level of investment in irrigation capacity and the other one to the irrigation level in each period. In the … period. Assuming a CARA utility function, we show that taxing the investment may entail an increase in preventive irrigation … although the investment decreases. Moreover, in the case of a logistic production function, the total water use is non …
Persistent link: https://www.econbiz.de/10011335744
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Comments on the investment-uncertainty relationship in a real option model
Cappuccio, Nunzio; Moretto, Michele - 2001
The paper considers the problem of evaluating the probability of investing in a capital-investment project as a measure … of the uncertainty-investment relationship in a real option model. By the use of the contingent claims analysis the …
Persistent link: https://www.econbiz.de/10011608790
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Land-price dynamics and macroeconomic fluctuations
Liu, Zheng; Wang, Pengfei; Zha, Tao - 2011
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. …
Persistent link: https://www.econbiz.de/10010292308
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Investment spending, equilibrium indeterminacy, and the interactions of monetary and fiscal policy
Lubik, Thomas A. - 2003
guarantee existence. When investment adjustment costs are introduced, the monetary and fiscal policy dichotomy is in principle …
Persistent link: https://www.econbiz.de/10010293451
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Toward a theory of evaluating predictive accuracy
Kunst, Robert M.; Jumah, Adusei - 2004
using an empirical example of UK investment data. …
Persistent link: https://www.econbiz.de/10010293709