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  • Search: subject_exact:"Putty-Clay-Modell"
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Year of publication
Subject
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Putty-Clay-Modell 131 Putty-clay model 129 Theorie 90 Theory 89 Investition 41 Investment 40 Vintage capital model 23 Vintage-Modell 23 Real options analysis 20 Realoptionsansatz 20 USA 18 United States 18 Capacity utilization 16 Kapazitätsauslastung 16 Risiko 15 Risk 15 Investitionsentscheidung 14 Investment decision 14 Produktivität 14 Productivity 13 Decision under uncertainty 11 Entscheidung unter Unsicherheit 11 Allgemeines Gleichgewicht 10 Deutschland 10 General equilibrium 10 Germany 10 Technischer Fortschritt 10 Ersatzinvestition 9 Estimation 9 Japan 9 Reinvestment 9 Schätzung 9 Technological change 9 Adjustment costs 8 Anpassungskosten 8 Economic convergence 8 Economic growth 8 Technologie 8 Technology 8 Wirtschaftliche Konvergenz 8
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Online availability
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Free 57 Undetermined 5
Type of publication
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Book / Working Paper 82 Article 50
Type of publication (narrower categories)
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Graue Literatur 52 Non-commercial literature 52 Article in journal 49 Aufsatz in Zeitschrift 49 Working Paper 48 Arbeitspapier 46 Hochschulschrift 9 Thesis 9 Collection of articles written by one author 6 Sammlung 6 Aufsatz im Buch 2 Book section 2
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Language
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English 127 Czech 1 French 1 Polish 1 Swedish 1 Undetermined 1
Author
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Gilchrist, Simon 22 Williams, John C. 21 Gries, Thomas 4 Niemann, Rainer 4 Pandalai-Nayar, Nitya 4 Steg, Jan-Henrik 4 Zon, Adriaan van 4 Aaronson, Daniel 3 Berger, Brett D. 3 Boehm, Christoph 3 French, Eric 3 Førsund, Finn R. 3 Gu, Lifeng 3 Gürtler, Marc 3 Hackbarth, Dirk 3 Hjalmarsson, Lennart 3 Sieg, Gernot 3 Sorkin, Isaac 3 Beckmann, Volker 2 Cadiou, Loïc 2 Chirinko, Robert S. 2 Dunne, Timothy 2 Dées, Stéphane 2 Fagnart, Jean-François 2 Johnson, Tim 2 Kasahara, Hiroyuki 2 Kumar, Praveen 2 Laffargue, Jean-Pierre 2 Lindh, Thomas 2 Lontzek, Thomas 2 Meyer, Henning 2 Mu, Xiaoyi 2 Roberts, John M. 2 Roys, Nicolas 2 Schaller, Huntley 2 Soregaroli, Claudio 2 Wei, Chao 2 Wesseler, Justus 2 Yerramilli, Vijay 2 Altuğ, Sumru 1
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Institution
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National Bureau of Economic Research 4 Federal Reserve Bank of San Francisco 2 Center for Economic Research <Tilburg> 1 Christian-Albrechts-Universität zu Kiel / Institut für Volkswirtschaftslehre 1 Escola de Pós-Graduação em Economia <Rio de Janeiro> 1 Federal Reserve System / Division of Research and Statistics 1 Universität Paderborn / Fachbereich Internationale Wirtschaftsbeziehungen 1
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Published in...
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Finance and economics discussion series 4 Journal of economic dynamics & control 4 NBER Working Paper 4 NBER working paper series 4 Working paper / National Bureau of Economic Research, Inc. 4 CESifo working papers 3 Discussion paper / Centre for Economic Policy Research 2 Document de travail / Centre d'Etudes Prospectives et d'Informations Internationales 2 Economics letters 2 International finance discussion papers 2 Journal of public economic theory 2 MERIT-Infonomics research memorandum series 2 Progress in economics research 2 Review of economic dynamics 2 The American economic review 2 The review of financial studies 2 Working papers series / Federal Reserve Bank of San Francisco 2 American journal of agricultural economics 1 Annals of economics and finance 1 Annual review of resource economics 1 Arbejdspapir : Institut for nationaløkonomi, Handelshøjskolen i København 1 Bank i kredyt 1 Bulletin of political economy 1 CEMMAP working papers / Centre for Microdata Methods and Practice 1 CESifo Working Paper 1 Discussion paper / Center for Economic Research, Tilburg University 1 Discussion paper series / Stanford Institute for Economic Policy Research 1 Discussion papers / Deutsches Institut für Wirtschaftsforschung 1 Discussion papers / Institute of Social and Economic Research 1 Disskussionsbeitrag / Arqus, Arbeitskreis Quantitative Steuerlehre 1 ECB Working Paper 1 Economic aspects of digital information technologies 1 Economica 1 Economics / Discussion papers : the open-access, open-assessment e-journal 1 Economics / Journal articles : the open-access, open-assessment journal 1 Economics Department working paper series 1 Economics bulletin : EB 1 Economics working paper 1 Ekonomický časopis : časopis pre ekonomickú teóriu, hospodársku politiku, spoločensko-ekonomické prognózovanie 1 Ekonomiska studier 1
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Source
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ECONIS (ZBW) 129 EconStor 2 USB Cologne (EcoSocSci) 1
Showing 1 - 50 of 132
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Investment, Capacity, and Uncertainty : A Putty-Clay Approach
Gilchrist, Simon; Williams, John C. - 2022
We embed the microeconomic decisions associated with investment under uncertainty, capacity utilization, and machine replacement in a general equilibrium model based on putty-clay technology. In the presence of irreversible factor proportions, a mean-preserving spread in the productivity of...
Persistent link: https://ebtypo.dmz1.zbw/10014072172
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Convex Supply Curves
Boehm, Christoph; Pandalai-Nayar, Nitya - 2022
We provide evidence that industries' supply curves are convex. To guide our empirical analysis, we develop a putty-clay model in which capacity constraints at the plant level generate convex supply curves at the industry level. The model's key insight is that an industry's capacity utilization...
Persistent link: https://ebtypo.dmz1.zbw/10013323626
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Transition Dynamics in Vintage Capital Models : Explaining the Postwar Catch-Up of Germany and Japan
Gilchrist, Simon; Williams, John C. - 2021
We consider a neoclassical interpretation of Germany and Japan's rapid postwar growth that relies on a catch-up mechanism through capital accumulation where technology is embodied in new capital goods. Using a putty-clay model of production and investment, we are able to capture many of the key...
Persistent link: https://ebtypo.dmz1.zbw/10013230828
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Putty-Clay and Investment : a Business Cycle Analysis
Gilchrist, Simon; Williams, John C. - 2021
This paper develops a dynamic stochastic general equilibrium model with putty-clay technology that incorporates embodied technology, investment irreversibility, and variable capacity utilization. Low short-run capital-labor substitutability native to the putty-clay framework induces the...
Persistent link: https://ebtypo.dmz1.zbw/10013247401
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The Impact of Tax Uncertainty on Irreversible Investment
Niemann, Rainer - 2021
Tax legislation, fiscal authorities, and tax courts create tax uncertainty by frequent tax reforms and various different interpretations of the tax law. Moreover, investors generate model-specific tax uncertainty by using simplified models that anticipate the actual tax base incorrectly. I...
Persistent link: https://ebtypo.dmz1.zbw/10013316889
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Convex Supply Curves
Boehm, Christoph - 2020
We provide evidence that industries' supply curves are convex. To guide our empirical analysis, we develop a putty-clay model in which capacity constraints at the plant level generate convex supply curves at the industry level. The model's key insight is that an industry's capacity utilization...
Persistent link: https://ebtypo.dmz1.zbw/10012479352
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Convex Supply Curves
Boehm, Christoph - 2020
We provide evidence that industries' supply curves are convex. To guide our empirical analysis, we develop a model, in which capacity constraints at the plant level generate convex supply curves at the industry level. The industry's capacity utilization rate is a sufficient statistic for the...
Persistent link: https://ebtypo.dmz1.zbw/10012824664
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Climate change and pandemics : on the timing of interventions to preserve a global common
Giovanniello, Monica; Perroni, Carlo - 2020
Persistent link: https://ebtypo.dmz1.zbw/10012224784
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Convex supply curves
Boehm, Christoph E.; Pandalai-Nayar, Nitya - 2020
Persistent link: https://ebtypo.dmz1.zbw/10012216290
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Inflexibility and Stock Returns
Gu, Lifeng - 2019
Investment-based asset pricing research highlights the role of irreversibility as a determinant of firms' risk and expected return. In a neoclassical model of a firm with costly scale adjustment options, we show that the effect of scale flexibility (i.e., contraction and expansion options) is to...
Persistent link: https://ebtypo.dmz1.zbw/10012901117
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Inflexibility and stock returns
Gu, Lifeng; Hackbarth, Dirk; Johnson, Tim - 2017
Persistent link: https://ebtypo.dmz1.zbw/10011817896
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Optimal Capital Structure and Investment with Real Options and Endogenous Debt Costs
Kumar, Praveen - 2017
We examine the joint optimization of financial leverage and irreversible capacity investment in a real options framework with risky debt and endogenous interest costs. Higher capacity, ceteris paribus, increases operating leverage and default probability, but lowers ex post adjustment costs and...
Persistent link: https://ebtypo.dmz1.zbw/10012949906
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Asymmetric Information and Irreversible Investments : An Auction Model
Maeland, Joril - 2016
The owner of a real option does not have the necessary expertise to manage the investment project and needs to contract with an expert in order to exercise the real option. The potential managers (the experts) have private information about their respective cost of investing in the project. The...
Persistent link: https://ebtypo.dmz1.zbw/10013004476
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Irreversible investment with fixed adjustment costs : a stochastic impulse control approach
Federico, Salvatore; Rosestolato, Mauro; Tacconi, Elisa - In: Mathematics and financial economics 13 (2019) 4, pp. 579-616
Persistent link: https://ebtypo.dmz1.zbw/10012055890
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Irreversible Investment in Oligopoly
Steg, Jan-Henrik - 2014
We take a general perspective on capital accumulation games with open loop strategies, as they have been formalized by Back and Paulsen (Rev. Financ. Stud. 22, 4531-4552, 2009). With such strategies, the optimization problems of the individual players are of the monotone follower type....
Persistent link: https://ebtypo.dmz1.zbw/10013047361
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Preemptive investment under uncertainty
Steg, Jan-Henrik - In: Games and economic behavior 110 (2018), pp. 90-119
Persistent link: https://ebtypo.dmz1.zbw/10012052071
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Inflexibility and stock returns
Gu, Lifeng; Hackbarth, Dirk; Johnson, Tim - In: The review of financial studies 31 (2018) 1, pp. 278-321
Persistent link: https://ebtypo.dmz1.zbw/10011924627
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Optimal capital structure and investment with real options and endogenous debt costs
Kumar, Praveen; Yerramilli, Vijay - In: The review of financial studies 31 (2018) 9, pp. 3452-3490
Persistent link: https://ebtypo.dmz1.zbw/10011927857
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Firm dynamics and the minimum wage : a putty-clay approach
Aaronson, Daniel; French, Eric; Sorkin, Isaac - 2013
We document two new facts about the market-level response to minimum wage hikes: firm exit and entry both rise. These results pose a puzzle: canonical models of firm dynamics predict that exit rises but that entry falls. We develop a model of firm dynamics based on putty-clay technology and show...
Persistent link: https://ebtypo.dmz1.zbw/10010212764
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Firm Dynamics and the Minimum Wage : A Putty-Clay Approach
Aaronson, Daniel - 2013
We document two new facts about the market-level response to minimum wage hikes: firm exit and entry both rise. These results pose a puzzle: canonical models of firm dynamics predict that exit rises but that entry falls. We develop a model of firm dynamics based on putty-clay technology and show...
Persistent link: https://ebtypo.dmz1.zbw/10013071562
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Should I stay or should I go? : a laboratory analysis of investment opportunities under ambiguity
Viefers, Paul - 2012
This paper investigates the impact of uncertainty on an irreversible investment decisions in the laboratory. Subjects own the option to seize a claim on the future sum of realizations from an (ambiguous) random walk. I contrast model predicitions of the Subjective Expected Utility model (SEU,...
Persistent link: https://ebtypo.dmz1.zbw/10009579353
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Fighting tax havens and climate change
Elsayyad, May - 2012
Persistent link: https://ebtypo.dmz1.zbw/10009728919
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Industry dynamics and the minimum wage : a putty-clay approach
Aaronson, Daniel; French, Eric; Sorkin, Isaac - 2016
Persistent link: https://ebtypo.dmz1.zbw/10011447726
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Economy of Greece : an evaluation of real sector
Olenev, Nicholas - In: Bulletin of political economy 10 (2016) 1, pp. 25-37
Persistent link: https://ebtypo.dmz1.zbw/10011558269
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Ex-ante regulation and ex-post liability under uncertainty and irreversibility : governing the coexistence of GM crops
Beckmann, Volker; Soregaroli, Claudio; Wesseler, Justus - 2010
Ex-ante regulations and ex-post liabilities for using a new technology will induce additional costs for adopters. The standard model is advanced by including irreversibility and uncertainty and taking into account transaction costs of negotiating possible cost reductions. The case analysed is...
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Persistent link: https://ebtypo.dmz1.zbw/10003935226
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Firm-level adjustment costs and aggregate investment dynamics - estimation on Hungarian data
Reiff, Ádám - 2010
This paper uses Hungarian data to estimate the structural parameters of a firm-level investment model with a rich structure of adjustment costs, and analyzes whether non-convex adjustment costs have any effect on the aggregate investment dynamics. The main question addressed is whether aggregate...
Persistent link: https://ebtypo.dmz1.zbw/10003987035
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Irreversible investment in oligopoly
Steg, Jan-Henrik - 2009
We offer a new perspective on games of irreversible investment under uncertainty in continuous time. The basis is a particular approach to solve the involved stochastic optimal control problems which allows to establish existence and uniqueness of an oligopolistic open loop equilibrium in a very...
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Persistent link: https://ebtypo.dmz1.zbw/10003818214
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Ex-ante regulation and ex-post liability under uncertainty and irreversibility : governing the coexistence of GM crops
Beckmann, Volker; Soregaroli, Claudio; Wesseler, Justus - 2009
Ex-ante regulations and ex-post liabilities for using a new technology will induce additional costs for adopters. The standard model is advanced by including irreversibility and uncertainty and taking into account transaction costs of negotiating possible cost reductions. The case analysed is...
Preview
Preview
Persistent link: https://ebtypo.dmz1.zbw/10003905106
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Stay in school or start working? : the human capital investment decision under uncertainty and irreversibility
Bilkic, Natasa; Gries, Thomas; Pilichowski, Margarethe - 2009
As the time of leaving school determines the level of academic achievement this timing decision is central for the human capital investment decision. Real option theory offers a new perspective of the human capital investment decision under uncertainty and irreversibility. Unlike other...
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Persistent link: https://ebtypo.dmz1.zbw/10003897279
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Dynamic free riding with irreversible investments
Battaglini, Marco; Nunnari, Salvatore; Palfrey, Thomas R. - In: The American economic review 104 (2014) 9, pp. 2858-2871
Persistent link: https://ebtypo.dmz1.zbw/10010468885
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Optimal investment policy with fixed adjustment costs and complete irreversibility
Roys, Nicolas - In: Economics letters 124 (2014) 3, pp. 416-419
Persistent link: https://ebtypo.dmz1.zbw/10010495138
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Dynamic analysis of structural change and productivity measurement
Førsund, Finn R.; Hjalmarsson, Lennart - 2008
A dynamic analysis of structural change is reviewed based on a vintage model of substitutability between inputs including capital before investment, but no substitution possibilities after investment, and ex post production possibilities characterised by fixed input coefficients. Key elements in...
Persistent link: https://ebtypo.dmz1.zbw/10010285617
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R&D-driven biases in energy-saving technical change: A putty-practically-clay approach
van Zon, Adriaan; Lontzek, Thomas S. - 2008
This paper deals with the problem of tackling the adverse effect of output growth on environmental quality. For this purpose we use an intermediate sector that builds putty-practically-clay capital consisting of an amalgam of energy and raw capital used for final goods production. The...
Persistent link: https://ebtypo.dmz1.zbw/10010334201
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Econometric analysis of irreversible investment with financial constraints : comparison of parametric and semiparametric estimations
Asano, Hirokatsu (contributor) - 2008
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Persistent link: https://ebtypo.dmz1.zbw/10003757708
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Essays on basket options hedging and irreversible investment valuation
Su, Xia - 2008
Persistent link: https://ebtypo.dmz1.zbw/10003740774
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Investment spikes and uncertainty in the petroleum refining industry
Dunne, Timothy (contributor); Mu, Xiaoyi (contributor) - 2008
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Persistent link: https://ebtypo.dmz1.zbw/10003727522
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Dynamic analysis of structural change and productivity measurement
Førsund, Finn R. (contributor);  … - 2008
A dynamic analysis of structural change is reviewed based on a vintage model of substitutability between inputs including capital before investment, but no substitution possibilities after investment, and ex post production possibilities characterised by fixed input coefficients. Key elements in...
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Persistent link: https://ebtypo.dmz1.zbw/10003769956
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Crunch time : a policy to avoid the "announcement effect" when terminating a subsidy
Gürtler, Marc; Sieg, Gernot - 2008 - [Elektronische Ressource]
If the government announces the termination of a subsidy paid for an irreversible investment under uncertainty, investors might decide to realize their investment so as to obtain the subsidy. These investors might have postponed an investment if future payment were assured. Depending on the...
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Persistent link: https://ebtypo.dmz1.zbw/10003766754
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Optimal investment policy with fixed adjustment costs and complete irreversibility
Roys, Nicolas (contributor) - 2007
Persistent link: https://ebtypo.dmz1.zbw/10003582909
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Double irreversibility and environmental policy timing
Pommeret, Aude; Prieur, Fabien - In: Journal of public economic theory 15 (2013) 2, pp. 273-291
Persistent link: https://ebtypo.dmz1.zbw/10009759734
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Irreversible investment under uncertainty in electricity generation : a clay-clay-vintage portfolio approach with an application to climate change policy in the UK
Zon, Adriaan van; Fuss, Sabine - 2006
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Persistent link: https://ebtypo.dmz1.zbw/10003390340
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Irreversible investment in oligopoly
Steg, Jan-Henrik - In: Finance and stochastics 16 (2012) 2, pp. 207-224
Persistent link: https://ebtypo.dmz1.zbw/10009544670
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Investície, riziko a nezamenitelʹnostʹ investícií : príklad automobilového priemyslu v Slovenskej republike
Belanová, Katarina - In: Ekonomický časopis : časopis pre ekonomickú … 60 (2012) 2, pp. 187-209
Persistent link: https://ebtypo.dmz1.zbw/10009724879
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Stay in school or start working? : the human capital investment decision under uncertainty and irreversibility
Bilkic, N.; Gries, Thomas; Pilichowski, M. - In: Labour economics : official journal of the European … 19 (2012) 5, pp. 706-717
Persistent link: https://ebtypo.dmz1.zbw/10009691050
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Vintage modelling for dummies using the putty-practically-clay approach
Zon, Adriaan van - 2005
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Persistent link: https://ebtypo.dmz1.zbw/10003285677
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A "putty-practically-clay" vintage model with R&D driven biases in energy-saving technical change
Zon, Adriaan van; Lontzek, Thomas - 2005
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Persistent link: https://ebtypo.dmz1.zbw/10003285710
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Investment, Capacity, and Uncertainty : A Putty-Clay Approach
Gilchrist, Simon; Williams, John C. - 2005
In this paper, we embed the microeconomic decisions associated with investment under uncertainty, capacity utilization, and machine replacement in a general equilibrium model based on putty-clay technology. We show that the combination of log-normally distributed idiosyncratic productivity...
Persistent link: https://ebtypo.dmz1.zbw/10014065002
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Transition dynamics in vintage capital models : explaining the postwar catch-up of Germany and Japan
Gilchrist, Simon (contributor);  … - 2004
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Persistent link: https://ebtypo.dmz1.zbw/10003156157
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Transition Dynamics in Vintage Capital Models : Explaining the Postwar Catch-Up of Germany and Japan
Gilchrist, Simon - 2004
We consider a neoclassical interpretation of Germany and Japan's rapid postwar growth that relies on a catch-up mechanism through capital accumulation where technology is embodied in new capital goods. Using a putty-clay model of production and investment, we are able to capture many of the key...
Persistent link: https://ebtypo.dmz1.zbw/10012467958
Saved in:
Cover Image
Investment, Capacity, and Uncertainty : A Putty-Clay Approach
Gilchrist, Simon - 2004
We embed the microeconomic decisions associated with investment under uncertainty, capacity utilization, and machine replacement in a general equilibrium model based on putty-clay technology. In the presence of irreversible factor proportions, a mean-preserving spread in the productivity of...
Persistent link: https://ebtypo.dmz1.zbw/10012468247
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