Compostela/Spain. Real Options Effects on
| Title: | Compostela/Spain. Real Options Effects on |
|---|---|
| Authors: | Jel-code J; Ansgar Belke; Matthias Göcke |
| Contributors: | The Pennsylvania State University CiteSeerX Archives |
| Source: | http://www.realoptions.org/papers2003/belke_goecke_aggregation.pdf. |
| Publication Year: | 2001 |
| Collection: | CiteSeerX |
| Subject Terms: | Aggregation; employment hysteresis; exchange rate uncertainty; real options |
| Description: | In a baseline micro model a band of inaction due to hiring- and firing-costs is widened by option value effects of exchange rate uncertainty. Based on this micro foundation an aggregation approach is presented. Under uncertainty, intervals of weak response to exchange rate reversals are introduced on the macro-level. 'Spurts ' in new employment or firing may occur after an initially weak response. Since these mechanisms may apply to other "investment " cases where the aggregation of microeconomic real options effects under uncertainty are relevant, they may even be of a more general interest. |
| Document Type: | text |
| File Description: | application/pdf |
| Language: | English |
| Relation: | http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.145.1795; http://www.realoptions.org/papers2003/belke_goecke_aggregation.pdf |
| Availability: | http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.145.1795; http://www.realoptions.org/papers2003/belke_goecke_aggregation.pdf |
| Rights: | Metadata may be used without restrictions as long as the oai identifier remains attached to it. |
| Accession Number: | edsbas.DB3763FE |
| Database: | BASE |