In this paper we offer an analysis of the effects of uncertainty about future tax policy on irreversible investment …. The main message of the paper is that investment is not much affected by the degreee of tax policy uncertainty. This is … that reducing tax policy uncertainty is probably no magic bullet to increase private investment spending …

degree of pessimism of the representative agent is the mean of the individual ones weighted by their index of absolute risk …

capital allocation, a 2.8% lower world GDP, a 12% rise in the cross-country dispersion of GDP per capita, lower wages in … opposite effects: significant improvements in capital allocation efficiency and lower cross-country inequality, higher wages in …

four barriers (geographic distance, cultural distance, foreign investment taxation, and political risk) accounts for a …We quantify the impact of barriers to international investment, using a novel multi-country dynamic general equilibrium … asset positions. We estimate this gravity equation using recently developed foreign investment data that have been restated …

worth, the evaporation of liquidity and rising risk premia are the key channels through which geopolitical uncertainty …

workers are risk averse but workers more so. Wages are given or partially indexed in the short run, and capital markets are … imperfect. The government sets the exchange rate to allocate risk between workers and owners. With less risk-averse firms, and … greater difference in risk aversion between workers and firms, the optimal exchange rate should vary little with pure terms …

significant impact. Finally, either regulatory instrument may induce the highest technology investment levels. …

similar investment subsidies were implemented in the same country, two years apart: once during a period of economic stability … offer an important policy opportunity to encourage investment. …

This article studies the effects of tax competition on the provision of public goods under business risk and partial … irreversibility of investment. As will be shown, the provision of public goods changes over time and also depends on the business …