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| Author: | Lee, J. Shin, K. |
| Title: | The role of a variable input in the relationship between investment and uncertainty |
| Journal: | American Economic Review
2000 : JUN, VOL. 90:3, p. 667-680 |
| Index terms: | INPUT-OUTPUT ANALYSIS INVESTMENT UNCERTAINTY |
| Language: | eng |
| Abstract: | The authors take an alternative approach to characterize the balance between the two (focal) effects that uncertainty has on investment. They explore the pivotal role of labor, a variable input, as the key to the traditional positive relationship between investment and uncertainty. this variable input convexifies the profit function so that increased uncertainty increases investment. |
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