We analyse empirically the effect of uncertainty on fixed investment by estimating an accelerator-type investment function based on a panel data set of the Hapanese manufacturing firms. The uncertainty measure, represented by the conditional standard deviation of the sales ghrowth rate, is...

Based on a panel data set of the Japanese corporations, we investigate into the collateral role of the land assets. We estimate the Euler equation of investment decision rule by the GMM when the corporations face borrowing constraints.

This paper presents a result of a voluntary contribution mechanism experiment with partial communication. We found that the trend of mean investments depended on whether a communication network was connected or not and on how fast all subjects could share information.

We analyse empirically the effect of uncertainty on fixed investment by estimating an accelerator-type investment function based on a panel data set of the Hapanese manufacturing firms. The uncertainty measure, represented by the conditional standard deviation of the sales ghrowth rate, is...