The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.
Investment and Demand Uncertainty
Abstract
This paper investigates the effects of uncertainty on the investment decisions of a sample of Italian manufacturing firms, using information on the subjective probability distribution of future demand for firms' products according to the entrepreneurs. The results support the view that uncertainty weakens the response of investment to demand thus slowing down capital accumulation. Consistent with the predictions of the theory, there is considerable heterogeneity in the effect of uncertainty on investment: it is stronger for firms that cannot easily reverse investment decisions and for those with substantial market power. We show that the negative effect of uncertainty on investment cannot be explained by uncertainty proxying for liquidity constraints.
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Citations
Cites
Dixit, R. K., & Pindyck, R. S. (1994) · doi:10.1515/9781400830176 · Cited by 9,029
Financing Constraints and Corporate Investment
Fazzari, S. M., Hubbard, R. G., Petersen, B. C., Blinder, A. S., & Poterba, J. M. (1988) · Brookings Papers on Economic Activity · doi:10.2307/2534426 · Cited by 5,574
Dynamic Investment Models and the Firm's Financial Policy
Bond, S., & Meghir, C. (1994) · The Review of Economic Studies · doi:10.2307/2297978 · Cited by 979
Cited by
Measuring Economic Policy Uncertainty*
Baker, S. R., Bloom, N., & Davis, S. J. (2016) · The Quarterly Journal of Economics · doi:10.1093/qje/qjw024 · Cited by 12,458
The Surprisingly Swift Decline of US Manufacturing Employment
Pierce, J. R., & Schott, P. K. (2016) · American Economic Review · doi:10.1257/aer.20131578 · Cited by 1,363
Uncertainty and Economic Activity: Evidence from Business Survey Data
Bachmann, R., Elstner, S., & Sims, E. R. (2013) · American Economic Journal: Macroeconomics · doi:10.1257/mac.5.2.217 · Cited by 991
Political Uncertainty and IPO Activity: Evidence from U.S. Gubernatorial Elections
Çolak, G., Durnev, A., & Qian, Y. (2017) · Journal of Financial and Quantitative Analysis · doi:10.1017/s0022109017000862 · Cited by 486
Policy uncertainty, irreversibility, and cross-border flows of capital
Julio, B., & Yook, Y. (2016) · Journal of International Economics · doi:10.1016/j.jinteco.2016.08.004 · Cited by 473
Metadata
- Authors
- Guiso, L., & Parigi, G.
- Venue
- The Quarterly Journal of Economics
- Publisher
- Oxford University Press (OUP)
- Published
- 1999-02-01
- Volume
- 114
- Issue
- 1
- Pages
- 185-227
- ISSN
- 0033-5533 (ISSN-L)
- 1531-4650
- OpenAlex
- W2163111126
- Cited by
- 797
- References
- 3
- FWCI
- 22.56
- Type
- journal article
- Language
- en
- Open access
- closed
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- Guiso, L., & Parigi, G. (1999). Investment and Demand Uncertainty. The Quarterly Journal of Economics. https://doi.org/10.1162/003355399555981
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
