out that our baseline specification uses a common scaling factor (lagged capital stock) for our dependent (investment) and … investment. We describe these leads in the note, hoping that they will inspire future research …

or R&D spending. We use the housing price component independent of firms' investment opportunity and credit supply shocks … existence of the collateral channel as housing price growth and firm investment exhibit a positive relationship. This collateral … notable finding is that despite the collateral channel, large housing price booms are detrimental to investment, which …

Real-estate price shocks did not positively associate with corporate investment from 1992 to 2008, as suggested by … changes in their variables of interest (real-estate and investment). This problem cannot be cured by an additive 1/PP …

What is the impact of real estate prices on corporate investment? In the presence of financing frictions, firms use … have a large impact on aggregate investment. Over the 1993-2007 period, the representative U.S. corporation invests 6 cents … decision to own land (1) by controlling for observable determinants of ownership and (2) by looking at the investment behavior …

impact on aggregate [corporate] investment.” My comment shows that their reported coefficient estimates are spurious. They … corporate investment. Replacing either with the constant number 1.0 yields similarly high coefficient estimates. Even with … Channel:How Real Estate Shocks Affect Corporate Investment;2. my own brief response to the Chaney, Sraer, and Thesmar (2020 …