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• W3125909504 abstract "A novel specification of the time-to-build (TTB) assumption is presented where firms invest in many projects that have complementarities, and the duration of the investment projects is uncertain. The model yields to a gradual (hump-shaped) response of investment to shocks, and it is shown to be equivalent, up to first-order linearization, to investment adjustment cost models where the cost of adjustment directly depends on the change in investment levels. The paper discusses how the new TTB specification is consistent with empirical features of investment decisions both at the aggregate and more disaggregated levels." @default.
• W3125909504 created "2021-02-01" @default.
• W3125909504 creator A5088906553 @default.
• W3125909504 date "2007-01-01" @default.
• W3125909504 modified "2023-09-23" @default.
• W3125909504 title "Resuscitating Time-to-Build" @default.
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• W3125909504 hasPublicationYear "2007" @default.
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