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 …

A recent literature suggests that because investment expenditures are irreversible and can be delayed, they may be … aggregate investment. We find that the volatility of the marginal profitability of capital - a summary measure of uncertainty … - affects investment as the theory suggests, but the size of the effect is moderate, and is greatest for developing countries …

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 …

A recent literature suggests that because investment expenditures are irreversible and can be delayed, they may be … aggregate investment. We find that the volatility of the marginal profitability of capital - a summary measure of uncertainty … - affects investment as the theory suggests, but the size of the effect is moderate, and is greatest for developing countries …

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, 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 …