Investment in Inflationary Economies /
The paper presents a model of irreversible investment under uncertainty, where investment takes place whenever a threshold level of marginal returns is reached. The threshold depends positively on price volatility; a change from high to low inflation induces an upward capital stock adjustment. In ec...
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| Format: | Zeitschrift |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C. :
International Monetary Fund,
1996.
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| Schriftenreihe: | IMF Working Papers; Working Paper ;
No. 1996/105 |
| Schlagworte: | |
| Online Zugang: | Full text available on IMF |