haku: @indexterm inflation / yhteensä: 1175
viite: 696 / 1175
| Tekijä: | Baldwin, C. Y. Ruback, R. S. |
| Otsikko: | Inflation, uncertainty, and investment. |
| Lehti: | Journal of Finance
1986 : JUL, VOL. 41:3, p. 657-669 |
| Asiasana: | INFLATION INVESTMENT |
| Kieli: | eng |
| Tiivistelmä: | The effect of uncertain inflation on firms' investments in fixed assets is investigated. Classifying assets according to their durability, firms' optimal investment rules and the impact of their investment decisions under different inflatory regimes are considered. The impact of a one-time change in the anticipated level of inflation on asset choices in a world of certainty is described and the detailed analysis of tax shields is suppressed in order to focus on the effects of price volatility. It is suggested that higher uncertainty about future relative asset prices increases the break-even price of a short-lived asset relative to a long-lived asset. |
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