the effects of migration on the accumulation of both knowledge and human capital, by invoking endogenous growth theory …

the effects of migration on the accumulation of both knowledge and human capital, by invoking endogenous growth theory …

in capital price and levels of aggregate investment and output. I present a model economy where the industry-level policy …-related investment cost is uncertain. Holding the average one-period investment cost constant, policy uncertainty leads to a higher … capital price and subsequently to lower levels of long-run aggregate investment and output. Policy uncertainty also makes …

I present a model economy where policy uncertainty creates short-term bias in investment and leads to a higher capital … price and lower long-run investment and output. I conduct a calibration exercise using a set of industry-level investment … capital price and investment-level differences by a factor of about 3 and for the output-level difference by a factor of about …