Wait-and-see: Investment options under policy uncertainty

被引：106
|
作者：
Stokey, Nancy L. [1 ]
机构：
[1] Univ Chicago, Chicago, IL 60637 USA
来源：
REVIEW OF ECONOMIC DYNAMICS | 2016年 / 21卷
关键词：
Policy uncertainty; Investment; Option value; Business cycles; NEWS;
D O I：
10.1016/j.red.2015.06.001
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper develops a model of investment decisions in which uncertainty about a one-time change in tax policy induces the firm to temporarily stop investing-to adopt a wait-and-see policy. After the uncertainty is resolved, the firm exploits the tabled projects, generating a temporary investment boom. (C) 2015 Elsevier Inc. All rights reserved.
引用
收藏
页码：246 / 265
页数：20
相关论文
共 50 条
  • [21] Waiting for the Courts: Effects of Policy Uncertainty on Pollution and Investment
    Dorsey, Jackson
    ENVIRONMENTAL & RESOURCE ECONOMICS, 2019, 74 (04) : 1453 - 1496
  • [22] Options for real options - Dealing with uncertainty in investment decisions for electricity networks
    Wijnia, YC
    Herder, PM
    INTERNATIONAL CONFERENCE ON SYSTEMS, MAN AND CYBERNETICS, VOL 1-4, PROCEEDINGS, 2005, : 3682 - 3688
  • [23] Overcoming the "diversification trap":firm investment decisions and innovation under policy uncertainty
    Dai, Yixin
    Wang, Yixiao
    Li, Rongrong
    INTERNATIONAL REVIEW OF ECONOMICS & FINANCE, 2024, 91 : 492 - 504
  • [24] Australian policy uncertainty and corporate investment
    Chen, Xikai
    Cao Hoang Anh Le
    Shan, Yaowen
    Taylor, Stephen
    PACIFIC-BASIN FINANCE JOURNAL, 2020, 61
  • [25] Investment decisions under uncertainty
    Sen, Sunanda
    JOURNAL OF POST KEYNESIAN ECONOMICS, 2020, 43 (02) : 267 - 280
  • [26] The user-side energy storage investment under subsidy policy uncertainty
    Zhao, Manli
    Zhang, Xinhua
    Hueng, C. James
    APPLIED ENERGY, 2025, 386
  • [27] On the investment-uncertainty relationship in a real options model
    Sarkar, S
    JOURNAL OF ECONOMIC DYNAMICS & CONTROL, 2000, 24 (02) : 219 - 225
  • [28] How uncertainty in industry policy affects corporate investment in China
    Deloof, Marc
    Yang, Jie
    Xu, Chaoyang
    JOURNAL OF BUSINESS FINANCE & ACCOUNTING, 2022, 49 (7-8) : 1289 - 1313
  • [29] Economic policy uncertainty and investment of Russian companies
    Naidenova, Iuliia N.
    Leonteva, Veronika V.
    VOPROSY EKONOMIKI, 2020, (02): : 141 - 159
  • [30] INVESTMENT UNDER UNCERTAINTY, COMPETITION AND REGULATION
    Huu, Andrien Nguyen
    JOURNAL OF DYNAMICS AND GAMES, 2014, 1 (04): : 579 - 598
12345