Uncertainty Shocks, Asset Supply and Pricing over the Business Cycle
This article estimates a business cycle model with endogenous financial asset supply and ambiguity averse investors. Firms’ shareholders choose not only production and investment, but also capital structure and payout policy subject to financial frictions. An increase in uncertainty about profits lo...
| Veröffentlicht in: | The Review of Economic Studies. - Review of Economic Studies Ltd.. - 85(2018), 2 (303), Seite 810-854 |
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| Format: | Online-Aufsatz |
| Sprache: | English |
| Veröffentlicht: |
2018
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| Zugriff auf das übergeordnete Werk: | The Review of Economic Studies |
| Schlagworte: | Uncertainty Ambiguity Investment Excess volatility Capital structure Regime switches |
| Online verfügbar |
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