The Impact of Random Tax Policy on Investment in Wind Power.

Mazumdar, Jonathan B.

2009

Description
  • This thesis considers the impact of tax policy uncertainty on firm level investment in wind power. I model the decision to invest as an irreversible investment with both price uncertainty and policy uncertainty. Tax policy uncertainty is introduced by a production tax credit that makes random discrete jumps. The model suggests that uncertain tax policy may decrease the time to investment and in... read more
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