Ultrafast photocurrent measurements are performed on individual carbon nanotube p-i-n photodiodes. The photocurrent response to subpicosecond pulses separated by a variable time delay Δt shows strong photocurrent suppression when two pulses overlap (Δt=0). The picosecond-scale decay time of photocurrent suppression scales inversely with the applied bias V(SD), and is twice as long for photon en...

I explore the role of the Just-in-Time (JIT) inventory system in the increase of cash holdings among U.S. manufacturing firms. I first demonstrate the empirical importance of JIT in shaping cash policy. I then develop a model to analyze the mechanism through which JIT affects cash and quantify its impact. In the model, both cash and inventory can serve as working capital. As firms switch from t...

This paper treats various aspects of the asymptotic behavior of solutions of certain elliptic equations of geometric interest on complete Riemannian manifolds. Sharp results relating the rate of volume growth of a complete Riemannian manifold and the growth of its harmonic and subharmonic functions can be found in E22] together with references to related results. In Sect. 2 of this paper we con...

The issue of whether government capital is productive has received a great deal of attention recently, yet empirical analyses of public capital productivity have generally been limited to the official capital stock estimates available in a small sample of countries. Alternatively, many researchers have investigated the output effects of public investment—recognizing that investment may be a poo...

This paper uses the financial crisis of 2008 as a natural experiment to demonstrate that when measuring investment-cash flow sensitivity, the value of a firm‟s assets that can be used as collateral should be taken into account. Using panel data on U.S. firms from 1990 to 2011, it was found that the share of physical capital in assets has a strong influence on investment-cash flow sensitivity, w...

This paper empirically analyzes the non-monotonic influence that interest rate changes have on irreversible investment in income producing properties. Using the complete history of quarterly capital improvements for 1,416 commercial properties over the 1978 to 2009 period, we find strong evidence of the non-monotonic effect for apartment, office, and retail properties, but not for industrial pr...

This paper provides a uni…ed framework to study how capital adjustment costs and uncertainty a¤ect investment dynamics and capital accumulation. It considers an ongoing …rm with stochastic downward sloping demand curve and facing three possible forms of adjustment costs: complete or partial irreversibility, …xed costs of undertaking any investment and the traditional quadratic adjustment costs....

Many economists believe that credit market distortions create a financial accelerator which destabilizes the economy. This paper shows that when credit market distortions arise from adverse selection they sometimes stabilize the economy rather than destabilize it. The stabilizing forces are closely related to forces that cause overinvestment in static models. When investment projects are equity...

The objective of the analysis is to study relationships between GDP, energy consumption, renewable production, and CO2 emissions in some European transition economies period 1990-2018. We use growth rates per capita values, a panel VAR approach where all variables are typically treated as endogenous, allowing inference on causality relationships. decision focus countries motivated by fact that ...