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This article discusses the effects of an asymmetric tax scheme on incremental and sequential investment strategies. The …
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We present a model of firm investment under uncertainty and partial irreversibility in which uncertainty is represented … impact the optimal investment and disinvestment policies, and how the presence oflarge negative jumps can drastically affect … negative effect of uncertainty on firm investment decisions. We test these predictions on a panel dataset of UK firms: we first …
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This paper studies the aggregate implications of microeconomic investment irreversibility and idiosyncratic uncertainty …
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