We survey recent microeconometric research on investment and employment that has used
panel data on individual firms or plants. We focus on model specification and econometric …

This paper has been prepared for the conference" Is Bank landing Important for the
Transmission of Monetary Policy?" organized by the Federai Reserve Bank of Boston, North …

Recent work in macroeconomics argues that imperfections in capital markets may lead to
business cycle fluctuations by propagating relatively modest shocks. Evidence for such a …

Firms significantly reduce their investment in response to nonfundamental drops in the stock
price of their product-market peers. We argue that this results stems from managers' limited …

Financial constraints and investment: methodological issues and international evidence |
Oxford Review of Economic Policy | Oxford Academic Skip to Main Content Advertisement …

We study the capital investment, stock issuance, and cash savings behavior of non-tech
manufacturers (old economy firms) during the 1990s technology bubble. Our empirical …

The appetite for fiscal discipline has been steadily declining among most industrial
countries. In the past, fiscal profligacy would have been punished by markets with higher …

This paper examines how industry structure affects corporate investment patterns. Real
options theory shows that deferring irreversible investment in the face of uncertainty is …

Опыт разных стран свидетельствует о том, что ключевой для обеспечения
конкурентоспособности национальной экономики является сфера стратегий …

In recent years, there has been a lively debate on whether stock market prices always equal
the expected present value of future dividends. A variety of theoretical work has called the …