Fixed Investment and Capital Flows : A Real Options Approach / Jorge Chan-Lau, Peter Clark.
This paper draws a link between international capital flows and the real options approach to investment by extending a model of real estate investment. It explains gradual investment, investment booms, and investment during recessions and emphasizes sunk costs, uncertainty, and the value of waiting....
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| Online Access: |
Full Text (via IMF e-Library) |
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| Format: | eBook |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
1998.
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| Series: | IMF working paper ;
WP/1998/125. |