We examine the investment behavior of a panel of German manufacturing ...rms for the time period from 1992 to 2000. Our methodology is structural and has several steps: First, we identify the pro...tability shocks that move investment demand at the ...rm level. Then, we specify an array of adjustment costs and capital market imperfections possibly in‡uencing optimal ...rm investment response to...

This paper studies optimal investment behavior in a clay-clay production environment. The model describes a firm producing one good on an imperfectly competitive output market, using capital and labor services. Existence and comparative dynamics of an optimal policy are studied. The model is calibrated for the U.S. manufacturing sector and numerical simulation experiments indicate that the repl...

This study examines the effects of retirement on health investment behaviors. We conduct a large-scale international comparison of the change in health investment behaviors after retirement among 13 developed countries, using harmonized datasets. We find that the changes in most of health investment behaviors are heterogenous across countries. JEL Classification Numbers: I00, I100, I120

Family size has always been a key factor affecting household investment decision making behavior (Browning 1992). Yet, recently, household financial decision making issues have become even more acute for millions of households that are part of the “Sandwich Generation.” Households with children approaching collegeage are now providing financial support for aging relatives. This combined with th...

a r t i c l e i n f o This study examines whether mean reversion in REIT prices presents an asymmetric behavior across various quantiles. Distinguished from previous literature that applied the traditional linear unit-root test, a state-of-the-art quantile unit-root test is employed to identify financial asset predictability in five real estate investment trust (REIT) classifications. Our empir...

This paper is motivated by the rising interest in assessing the effect of disruptions in resources and environmental conditions on economic growth. Such an assessment requires, ultimately, the use of truly integrated models of the climate and economic systems. For these purposes, we have developed a Non-Equilibrium Dynamic Model (NEDyM) by introducing investment dynamics and nonequilibrium effe...

INTRODUCTION While increasingly popular among mid- to large-size employers, using financial incentives to induce health behavior change among employees has been controversial, in part due to poor quality and generalizability of studies to date. Thus, fundamental questions have been left unanswered: To generate positive economic returns on investment, what level of incentive should be offered fo...

Purpose: We investigate participant behaviors and the investment performance of defined contribution (DC) plans. Design/methodology/approach: Using unique data 420,839 participants in 47,442 workplace pension schemes for small firms South Korea, we examine behavior DC Findings: find that exhibit extreme risk avoidance their management, leading to lower returns. Additionally, most choose few pro...