Recent literature suggests that because investment expenditures are irreversible and can be delayed, they may be highly sensitive to uncertainty. The authors briefly summarize the theory, stressing its empirical implications. Then, using cross-section and time-series data for a set of developing and industrial countries, they explore the empirical relevance of irreversibility and uncertainty to aggregate investment. They find that: (a) the volatility...
Voir la suite
INFORMATION
-
1993/06/30
-
Document de travail de recherche sur les politiques
-
WPS1148
-
1
-
1
-
2010/07/01
-
Economic instability and aggregate investment
-
average rate of inflation
TÉLÉCHARGER
RAPPORT COMPLET
Version officielle du document (peut inclure des signatures etc…)
-
Total Downloads** : 1072
*La version texte est une version à reconnaissance optique de caractères non-corrigée. Cette version est fournie uniquement pour accommoder les utilisateurs disposant de connections lentes.