Investment and Demand Uncertainty
AbstractTheoretical models of investment under uncertainty predict that the sign and the strength of the investment -uncertaintyrelationship is in principle ambiguous and can vary greatly across groups of firms depending on the degree of irreversibility of investment and the market power of the firm. This paper investigates the effects of uncertainty on the investment decisions of a sample of Italian manufacturing firms, using information on the subjective probability distribution of future demand for firms' products according to entrepreneurs.
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Bibliographic InfoPaper provided by Banca Italia - Servizio di Studi in its series Papers with number 289.
Length: 62 pages
Date of creation: 1996
Date of revision:
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Postal: Banca d'Italia-Servizio Studi-Divisione Biblioteca e Pubblicazioni - Via N azionale, 91 -00184 Rome, Italy.
Web page: http://www.bancaditalia.it/
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Other versions of this item:
- D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
- E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
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