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The impact of uncertainty on firms' investment outlays is subject to an ongoing debate. Theory identifies several channels. Irreversibility, financing constraints and risk aversion make a negative relationship between uncertainty and investment likely. On the other hand, the ability of firms to...
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Recent work criticises both the logic and relevance of the theoretical basis of the approach to estimating the costs of … household members consume market goods with given household income. The "costs of childrenʺ are perceived essentially as market … consumption costs. This ignores the fact that an important, possibly preponderant element of child costs takes the form of …
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