Browsing Working Papers by Author "Solimano, Andrés"
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Economic instability and aggregate investment
Pindyck, Robert S.; Solimano, Andrés (MIT Center for Energy and Environmental Policy Research, 1993)A recent literature suggests that because investment expenditures are irreversible and can be delayed, they may be highly sensitive to uncertainty. We briefly summarize the theory, stressing its empirical implications. We ...