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The conventional wisdom about Keynes's Principle of Effective Demand is that it states something about quantities. It is widely held that the Principle determines the levels of output and employment in a world not governed by Say's Law. This paper argues that the Principle of Effective Demand...
Persistent link: https://www.econbiz.de/10010285937
theory of capital structure. Yet, we show that this negative relationship is weak in case of financially constrained firms …. We also analyze how credit multiplier affects external financing decisions of financially constrained and unconstrained …
Persistent link: https://www.econbiz.de/10012602781
Persistent link: https://www.econbiz.de/10011696432
the generality of this result w.r.t. size and persistence of the shock, size of the government spending multiplier, and …
Persistent link: https://www.econbiz.de/10010270052
This paper investigates investment performance of microfinance investment funds. The examined funds have recorded lower … revealed that investment in microfinance investment funds that focus especially on debt instruments represents an attractive … investors with a particular interest in the socially responsible aspect of investment into microfinance. …
Persistent link: https://www.econbiz.de/10010322191
Towards the end of 2009, the world economy was recovering from its deepest recession since the end of World War II. Most countries around the world took resort to fiscal policy in order to foster this recovery. In this paper, we first discuss the pros and cons of discretionary fiscal policy from...
Persistent link: https://www.econbiz.de/10010277785
guarantee existence. When investment adjustment costs are introduced, the monetary and fiscal policy dichotomy is in principle …
Persistent link: https://www.econbiz.de/10010293451
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
's investment of endogenous size. Using a real option approach in continuous time, we show that profit sharing does not affect a … total investment. We also evaluate the reduction in the firm's value due to profit sharing, linking this reduction to the …
Persistent link: https://www.econbiz.de/10011325118
decreases investment substantially. Theseresults are neither in line with expected utility theory norwith psychologically …This paper experimentally investigates investment behavior.We find that global risk – i.e. risk independent of an agent …’sinvestment decision (like political risk) – substantiallydecreases investment. Also effort to obtain the capital usedfor investment …
Persistent link: https://www.econbiz.de/10010324995