CINECA IRIS Institutional Research Information System
IRIS è la soluzione IT che facilita la raccolta e la gestione dei dati relativi alle attività e ai prodotti della ricerca. Fornisce a ricercatori, amministratori e valutatori gli strumenti per monitorare i risultati della ricerca, aumentarne la visibilità e allocare in modo efficace le risorse disponibili.
EnglishThe literature on the relationship between exchange rate and investment mainly focus on the devaluation argument, which evidences that a devaluation may affect positively investment spending. The goal of this paper is to extend the analysis to how exchange rate variability can influence firm’s innovation process. Employing a large panel of Italian firms we estimate the impact of exchange rate on investment. Combining an ECM model specification with a model of signal extraction we find that exchange rate volatility reduces investment, with a decreasing sensitivity the greater is firm market power. A stable exchange rate is then an incentive to investment as it allows more reliable estimation of its marginal productivity. To this extent, an economic system may benefit from a stable exchange rate in terms of investment and profit, provided it is able to strengthen its firm market power.
Atella, V., Belvisi, P., & Atzeni, G. (2002). Will the Euro be beneficial on firm's investment behaviour?.
| Tipologia: | Altro | |
| Citazione: | Atella, V., Belvisi, P., & Atzeni, G. (2002). Will the Euro be beneficial on firm's investment behaviour?. | |
| Lingua: | en | |
| Data di pubblicazione: | nov-2002 | |
| Titolo: | Will the Euro be beneficial on firm's investment behaviour? | |
| Autori: | Atella, Vincenzo;Belvisi, Pierluigi;Atzeni, Gianfranco | |
| Autori: | ||
| Appare nelle tipologie: | 99 - Altro |
File in questo prodotto:
| File | Descrizione | Tipologia | Licenza | |
|---|---|---|---|---|
| 180.pdf | N/A | Open Access Visualizza/Apri |
Copyright © 2021