To Buy or Not to Buy? : Uncertainty, Irreversibility and Heterogeneous Investment Dynamics in Italian Company Data /

This study tests for the presence of real options effects induced by uncertainty and (partial) irreversibility on fixed capital investment using Italian company data. The approach recognizes that firm-level investment spending may, itself, be aggregated over multiple investment decisions in separate...

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Bibliographic Details
Main Author: Lombardi, Domenico
Other Authors: Bond, Stephen
Format: Journal
Language:English
Published: Washington, D.C. : International Monetary Fund, 2004.
Series:IMF Working Papers; Working Paper ; No. 2004/104
Online Access:Full text available on IMF