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Thesis

Uncertainty, investment and capital accumulation: a structural econometric approach

Abstract:

This thesis contributes to the empirical literature about how uncertainty affects firm-level investment behavior and capital accumulation using a structural econometric approach. Chapter 2 surveys the literature and highlights that there are two key channels through which uncertainty may affect investment decisions. One reflects the non-linearity of operating profits in stochastic demand or productivity parameters, summarized as the Hartman-Abel-Caballero (HAC) effect. Another reflects fricti...

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Institution:
University of Oxford
Oxford college:
Nuffield College
Department:
Social Sciences Division - Economics

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Role:
Supervisor
Publication date:
2009
Type of award:
DPhil
Level of award:
Doctoral
Awarding institution:
Oxford University, UK
URN:
uuid:27e70f50-488a-4113-b7b6-c5b6b916f156
Local pid:
ora:6099

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