摘要: Abstract A stylized fact on post-stabilization economies is that getting the fundamentals right, even though necessary, not sufficient to ensure a prompt and costless resumption of growth. Uncertainty whether stabilization can in be sustained confers an option value postponing investment domestic real assets.
elsevier.com
sci-hub.se 参考文章(10)
Rudiger Dornbusch, The New Classical Macroeconomics and Stabilization Policy The American Economic Review. ,vol. 80, pp. 143- 147 ,(2016)
Alain Ize, Adjustment Uncertainty, Confidence, and Growth: Latin America after the Debt Crisis Social Science Research Network. ,(1989)
Sweder Van Wijnbergen, Trade reform, aggregate investment and capital flight: On credibility and the value of information Economics Letters. ,vol. 19, pp. 369- 372 ,(1985) , 10.1016/0165-1765(85)90238-1
Rudiger Dornbusch, Policies to Move from Stabilization to Growth The World Bank Economic Review. ,vol. 4, pp. 19- 48 ,(1990) , 10.1093/WBER/4.SUPPL_1.19
R. Dornbusch, Credibility and Stabilization Quarterly Journal of Economics. ,vol. 106, pp. 837- 850 ,(1991) , 10.2307/2937929
Avinash Dixit, Investment and Hysteresis Journal of Economic Perspectives. ,vol. 6, pp. 107- 132 ,(1992) , 10.1257/JEP.6.1.107
Russell Cooper, Andrew John, Coordinating Coordination Failures in Keynesian Models Quarterly Journal of Economics. ,vol. 103, pp. 441- 463 ,(1988) , 10.2307/1885539
Robert Pindyck, Irreversibility, Uncertainty, and Investment Journal of Economic Literature. ,vol. 29, pp. 1- ,(1990) , 10.3386/W3307
Mark Gersovitz, Jonathan Eaton, Country Risk and the Organization of International Capital Transfer Research Papers in Economics. ,(1987)
Ben S. Bernanke, Irreversibility, Uncertainty, and Cyclical Investment Quarterly Journal of Economics. ,vol. 98, pp. 85- 106 ,(1983) , 10.2307/1885568