| 000 | 02283nam a22004214a 4500 | ||
|---|---|---|---|
| 001 | WPIEA1251998 | ||
| 003 | IMF | ||
| 005 | 20190405155843.0 | ||
| 006 | m o d | ||
| 007 | cr cn||||||||| | ||
| 008 | 020129s1998 dcu o i00 0 eng d | ||
| 020 |
_a1451937393 : _c15.00 USD |
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| 020 | _z9781451937398 | ||
| 022 | _a1018-5941 | ||
| 024 | 7 |
_a10.5089/9781451937398.001 _2doi |
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| 035 | _a(IMF)WPIEA1251998 | ||
| 040 |
_aDcWaIMF _beng |
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| 100 | 1 | _aChan-Lau, Jorge A. | |
| 245 | 1 | 0 |
_aFixed Investment and Capital Flows _h[electronic resource] : _bA Real Options Approach / _cJorge A Chan-Lau. |
| 260 |
_aWashington, D.C. : _bInternational Monetary Fund, _c1998. |
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| 300 | _a1 online resource (28 p.) | ||
| 490 | 1 |
_aIMF Working Papers; Working Paper ; _vNo. 98/125 |
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| 520 | 3 | _aThis 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. The optimal waiting time increases as foreign borrowing becomes more expensive because higher returns are required to cover the sunk costs of investing. The lower the initial level of profitability, the more likely investment will be sequential; conversely, a relatively high initial rate of return will be associated with simultaneous investment. | |
| 588 | _aDescription based on print version record. | ||
| 650 | 7 |
_aCapital Flows _2imf |
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| 650 | 7 |
_aCapital Stock _2imf |
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| 650 | 7 |
_aCost of Capital _2imf |
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| 650 | 7 |
_aInterest Rate Spread _2imf |
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| 650 | 7 |
_aInvestors _2imf |
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| 650 | 7 |
_aIrreversible Investment _2imf |
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| 651 | 7 |
_aJersey _2imf |
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| 651 | 7 |
_aMexico _2imf |
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| 651 | 7 |
_aUnited Kingdom _2imf |
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| 700 | 1 | _aClark, Peter B. | |
| 776 | 0 | 8 |
_iPrint Version: _aChan-Lau, Jorge A. _tFixed Investment and Capital Flows : A Real Options Approach _dWashington, D.C. : International Monetary Fund, 1998. _z9781451937398 |
| 830 | 0 |
_aIMF Working Papers; Working Paper ; _vNo. 98/125 |
|
| 856 | 4 | 0 |
_uhttp://elibrary.imf.org/view/IMF001/02555-9781451937398/02555-9781451937398/02555-9781451937398.xml _zIMF e-Library |
| 856 | 4 | 0 |
_uhttp://www.imfbookstore.org/IMFORG/9781451937398 _zIMF Book Store |
| 999 |
_c149420 _d149420 |
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