Fixed Investment and Capital Flows : A Real Options Approach /
This paper draws a link between international capital flows and the real options approach to investment by extending a model of real estate investment. It explains gradual investment, investment booms, and investment during recessions and emphasizes sunk costs, uncertainty, and the value of waiting....
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| Formato: | Periódico |
| Idioma: | English |
| Publicado em: |
Washington, D.C. :
International Monetary Fund,
1998.
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| Colecção: | IMF Working Papers; Working Paper ;
No. 1998/125 |
| Acesso em linha: | Full text available on IMF |