| 来源类型 | FEEM working papers "Note di lavoro" series |
| 规范类型 | 论文 |
| Long-run Investment under Uncertain Demand | |
| Luca Di Corato; Michele Moretto; Sergio Vergalli | |
| 发表日期 | 2013 |
| 出处 | Economy and Society |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | In the literature investigating the impact of uncertainty on short-run and long-run investment, most authors have used a log linear profit function. This functional form has been generally considered a reasonable approximation for more general ones and has the advantage of providing closed form solutions for both short-run investment rule and long-run rate of capital accumulation. In this paper, we consider a firm facing a linear demand function with additive shocks and present a technique for the analytical approximation of the long-run average rate of capital accumulation for the case of an inverted U-shape profit function. We then compare the long-run rates of capital accumulation calculated under both assumptions within a plausible range of parameter values. We notice significant differences and conclude that the choice of a log linear functional form has a non-trivial impact on the magnitude of the long run rate of capital accumulation. |
| 特色分类 | C61;D92;E22 |
| 关键词 | Investment Demand Uncertainty Irreversibility |
| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/long-run-investment-under-uncertain-demand/ |
| 来源智库 | Fondazione Eni Enrico Mattei (Italy) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/118193 |
| 推荐引用方式 GB/T 7714 | Luca Di Corato,Michele Moretto,Sergio Vergalli. Long-run Investment under Uncertain Demand. 2013. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| 20137151210311Nota_d（71KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
| 20137151210394NDL201（1149KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
| 文件名： | 20137151210311Nota_di_Lavoro.jpg |
| 格式： | JPEG |
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