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taxation (household savings, business capital formation, residential housing investment and pension/life insurance asset …
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), Episcopos (1995), and Abel et al. (1996), suggest an important linkage between the effect of uncertainty on investment and the … of investment irreversibility. A simple empirical illustration is provided by using pooled annual data for 12 OECD …
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investment across countries. This raises the question whether certain types of government institutions might help reduce this … beneficial effects on investment by allowing governments to credibly commit not to engage in ex post opportunism with respect to …
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