search query: @freeterm IRREVERSIBILITY / total: 4
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| Author: | Kogan, L. |
| Title: | An equilibrium model of irreversible investment |
| Journal: | Journal of Financial Economics
2001 : NOV, VOL. 62:2, p. 201-245 |
| Index terms: | EQUILIBRIUM ANALYSIS GEARING INVESTMENT |
| Freeterms: | IRREVERSIBILITY |
| Language: | eng |
| Abstract: | This paper presents a general equilibrium model of a two-sector production economy with irreversible real investment. Irreversibility of investment is the most prominent feature of the productive sector. It restricts capital accumulation, affecting firms' investment decisions, which in turn determine properties of asset prices. |
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