Nam, Changwoo - In: KDI-journal of economic policy 44 (2022) 1, pp. 77-98
to investment decision- making after confirming that the investment dispersion of Korean firms is pro-cyclical and can … economy. In particular, capital adjustment costs are empirically proven to cause investment dispersion to expand given that … the substitution effect of the marginal value to the marginal cost for one unit of investment in the inter …