output changes. In the euro area investment is the predominant driver of output changes, while in the U.S. consumption shifts … investment, as the proximate cause for this fact, the source of the consumption difference remains a puzzle. …

macroeconomic effects of public and private investment through VAR analysis. From impulse response functions, we are able to assess … the extent of crowding-in or crowding-out of both components of investment. We also compute the associated macroeconomic … rates of return of public and private investment for each country. The results point mostly to the existence of positive …

This paper investigates the link between corporate debt and investment for a group of five peripheral euro area … countries. Using firm-level data from 2005-2014, we postulate a non-linear corporate leverage-investment relationship and derive … thresholds beyond which leverage has a negative and significant impact on investment. The investment sensitivity of debt …

, the positive impact of a marginal increase in debt on investment efficiency disappears if firm debt is already excessive … banks and investment efficiency …

their investment more after the crisis. This negative effect is stronger for firms linked to weak banks with exposures to … corporate investment …

This paper analyses the implications of corporate indebtedness for investment following large economic shocks. The … suggest that investment of high-debt firms is significantly depressed for an extended period in the aftermath of economic …% higher than that of firms with lower debt burdens. The negative impact of high debt on investment is most evident for firms …

corporate investment and its financing structure. We identify shocks to overall demand and loan supply with sign and impact … restrictions. Although tightened financial conditions have adversely impacted corporate investment during and after the sovereign …

We use the recent financial crisis period to analyse the effect of bank credit tightening on real firm investment. We …, investment falls substantially more in bank-dependent industries …

We contrast how monetary policy affects intangible relative to tangible investment. We document that the stock prices … total investment in firms with more intangible assets responds less to monetary policy, and that intangible investment … responds less to monetary policy compared to tangible investment. We identify two mechanisms behind these results. First, firms …