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  • This paper contributes to the existing literature by showing that uncertainty produces a non-uniform impact to the extent that different types of capital goods exhibit heterogeneous irreversibility, which we define as asset-specific irreversibility. Hence, asset-specific irreversibility is responsible for asymmetries in responses across types of capital goods to uncertainty. We also show that for a given type of capital good, uncertainty produces a variety of responses across sectors, which we define sector-specific irreversibility. In other words, sectoral differences in terms of the ability to substitute a given type of capital with labour, introduce a second-order effect of uncertainty on investment. (xsd:string)
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?:dateModified
  • 2010 (xsd:gyear)
?:datePublished
  • 2010 (xsd:gyear)
?:doi
  • 10.1080/00036840701736040 ()
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  • true (xsd:boolean)
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  • en (xsd:string)
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?:issueNumber
  • 14 (xsd:string)
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  • Investment in Greek Manufacturing under Irreversibility and Uncertainty: the Message in Used Capital Expenditures (xsd:string)
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  • Zeitschriftenartikel (xsd:string)
  • journal_article (en)
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  • GESIS-SSOAR (xsd:string)
  • In: Applied Economics, 42, 2010, 14, 1797-1809 (xsd:string)
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?:urn
  • urn:nbn:de:0168-ssoar-253978 ()
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  • 42 (xsd:string)