- affects investment as the theory suggests, but the size of the effect is moderate, and is greatest for developing countries …A recent literature suggests that because investment expenditures are irreversible and can be delayed, they may be … highly sensitive to uncertainty. We briefly summarize the theory, stressing its empirical implications. We then use cross …

rates - is determined to equate the world aggregate of investment demand to the world aggregate of desired national saving …

We develop a model of investment with financial constraints and use it to investigate the relation between investment … between q and investment, relative to the frictionless benchmark. We present a calibrated version of the model, which, due to … this effect, generates realistic correlations between investment, q, and cash flow …

We develop a model of investment with financial constraints and use it to investigate the relation between investment … between q and investment, relative to the frictionless benchmark. We present a calibrated version of the model, which, due to … this effect, generates realistic correlations between investment, q, and cash flow …

We develop a model of investment with financial constraints and use it to investigate the relation between investment … between q and investment, relative to the frictionless benchmark. We present a calibrated version of the model, which, due to … this effect, generate realistic correlations between investment, q, and cash flow …

rates — is determined to equate the world aggregate of investment demand to the world aggregate of desired national saving …

- affects investment as the theory suggests, but the size of the effect is moderate, and is greatest for developing countries …A recent literature suggests that because investment expenditures are irreversible and can be delayed, they may be … highly sensitive to uncertainty. We briefly summarize the theory, stressing its empirical implications. We then use cross …