In this paper we offer an analysis of the effects of uncertainty about future tax policy on irreversible investment …. The main message of the paper is that investment is not much affected by the degreee of tax policy uncertainty. This is … that reducing tax policy uncertainty is probably no magic bullet to increase private investment spending …

under uncertainty. The paper focuses on the heterogeneity of firm level investment responses to both demand and supply side … sources of uncertainty. Accordingly, the investment-uncertainty relationship is examined across groups of firms with varying … degrees of investment irreversibility defined on the basis of market structures and access to secondary markets for capital …

In the literature investigating the impact of uncertainty on short-run and long-run investment, most authors have used …

This article discusses the effects of corporate tax asymmetries under investment irreversibility. We introduce a tax … not only to income uncertainty but also to policy uncertainty. …