. Financially constrained firms decide on the level of their liquid resources facing cash-flow shocks and time-varying investment … liquidity and in investment even if technology remains constant, consistently with firm-level and aggregate evidence. These … investment waves are not constrained efficient in general, because the social and private value of liquidity differs. The …

In this paper we introduce the notion of themes as an additional investment dimension beyond asset classes, regions …

capital. We show that the competitive equilibrium is constrained inefficient, leading to too little risky investment. We also …

balancing investment incentives with allocative efficiency and competition objectives. Intermediate regulation is compatible … regulation and efficient investment is thus in doubt. Incentive regulation for regular infrastructure investments therefore needs …

Two jurisdictions compete to attract shares of the R&D investment budget of a large multinational enterprise, whose …