uncertainty, firms that are credit constrained switch the composition of investment by reducing productivity-enhancing investment …We show that an increase in aggregate uncertainty - measured by stock market volatility - reduces productivity growth … uncertainty (Baker et al., 2016) is used instead of stock market volatility as a measure of aggregate uncertainty. …

This paper evaluates the impact of the taxation system on factor costs, investment and economic activity. This is … identifies the link between user cost and investment in the context of a full econometric model of investment demand determinants … that includes aggregate demand, expectations and uncertainty. Finally, the study evaluates the past contribution of …

We trace Japanese corporate investment across different types of firms over the past decades and estimate the main … determinants of investment. We find that there are differences in investment behavior between firms expanding abroad and those … operating mainly in domestic markets. On the back of a trend increase in production offshoring, investment by large companies …

of increased uncertainty and decreased growth opportunities was stronger than that of the credit contraction per se. From … the start of the financial crisis (third quarter of 2007) to its peak (first quarter of 2009), both large and investment … sharply (by 17.8% in the case of investment-grade firms) after the fall of Lehman. Though small and unrated firms have …