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BEGIN:VEVENT
UID:e292909180455fcc92d02c9ca2da2632
CATEGORIES:Seminars
CREATED:20170421T184708
SUMMARY:Lunch Seminar: Adriana Grasso - LUISS
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p style="text-align: justify;"><strong>Business Investment Plans and Infla
 tion Expectations</strong></p><p style="text-align: justify;">Abstract:<br 
 /> In this paper we empirically investigate the relationship between firms’
  inflation expectations and their willingness to invest. Using survey data 
 on Italian firms we find that a 100 basis points increase in expected infla
 tion raises, all else equal, by nearly 2.5 percentage points the probabilit
 y that a firm reports higher expected investment expenditure. While we docu
 ment a minor role of the firm-level nominal borrowing cost, other determina
 nts of investment expectations are significant, such as the credit markets’
  access conditions and the expected liquidity position of firms. Our result
 s bear important implications for policymakers whereby measures aimed at en
 gineering higher inflation expectations may be successful at stimulating th
 e economy.</p>
DTSTAMP:20260406T023942Z
DTSTART:20161207T130000Z
DTEND:20161207T140000Z
SEQUENCE:0
TRANSP:OPAQUE
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