search query: @author Leahy, J. / total: 3
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| Author: | Leahy, J. Whited, T. |
| Title: | The effect of uncertainty on investment: some stylized facts |
| Journal: | Journal of Money, Credit and Banking
1996 : FEB, VOL. 28:1, p. 64-83 |
| Index terms: | INVESTMENT UNCERTAINTY MONEY |
| Language: | eng |
| Abstract: | Economic theory has much to say about the relationship between uncertainty and investment. Taken as a whole, however, what theory has to say is ambiguous. Different theories emphasize different channels, some pointing to a positive relationship and some to a negative relationship. Given this ambiguity, it is surprising that little empirical work has been done aimed at signing the effect of uncertainty on investment and sorting out the relative importance of these various channels. The goal of this paper is to establish some stylized facts concerning this relationship. |
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