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PDF Availablehttps://doi.org/10.1016/j.econlet.2011.12.079
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Cite Journal: Economics Letters |  Publication Date: Jan 24, 2012 |
 Citations: 4 |  License type: other-oa |
Affiliation: University of Iceland, Birkbeck, University of London
The collapse of Iceland’s financial system in October 2008 is used as a natural experiment to test whether advertising decisions have a forward-looking component. The results show that changes in the volume of advertisements precede changes in investment.
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