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A tale of two margins : monetary policy and capital misallocation

Albrizio, Silvia; González, Beatriz; Khametshin, Dmitry - 2023

Persistent link: https://www.econbiz.de/10014248340

Dynamic efficiency and Pareto optimality in a stochastic OLG model with production and social security

Barbie, Martin; Hagedorn, Marcus; Kaul, Ashok - 2000

We analyze the interaction between risk sharing and capital accumulation in a stochastic OLG model with production. We give a complete characterization of interim Pareto optimality. Our characterization also subsumes equilibria with a PAYG social security system. In a competitive equilibrium...

Persistent link: https://www.econbiz.de/10001537212

Income Taxes, Subsidies to Education, and Investments in Human Capital

Mendolicchio, Concetta; Paolini, Dimitri; Pietra, Tito - 2010

We study a two-sector economy with investments in human and physical capital and imperfect labor markets. Human and physical capital are heterogeneous. Workers and firms endogenously select the sector they are active in, and choose the amount of their sector-specific investments in human and...

Persistent link: https://www.econbiz.de/10014195459

Do Individual Behavioral Biases Affect Financial Markets and the Macroeconomy?

Bhamra, Harjoat Singh - 2017

investment and growth. The increased risk from holding biased portfolios, which increases the demand for the risk-free asset …

Persistent link: https://www.econbiz.de/10012966469

Uphill Capital Flows, Intangible Investment, and Allocative Efficiency

Zhang, Haiping - 2019

This paper proposes a novel channel, i.e., within-firm intangible-tangible investment composition, through which … tangibles and the unit-cost differential, which triggers within-firm investment reallocation. It turns out that allocative … domestic investment, the larger the financial inflows, the more likely the productivity eventually exceeds its initial level …

Persistent link: https://www.econbiz.de/10012890959

Allocations to Sustainable Investing

Urwin, Roger - 2010

Persistent link: https://www.econbiz.de/10013139421

Public Information and Inefficient Investment

Gala, Vito - 2012

trigger allocative inefficiency and liquidity crises. Entrepreneurs do not internalize the negative impact of their investment … a non-monotonic effect on expected returns on investment and social welfare. An increase in the quality of public … information has redistributive effects on welfare as entrepreneurs gain and financiers lose. Investment restrictions and targeted …

Persistent link: https://www.econbiz.de/10013116285

Do Firms Really Allocate Capital So Inefficiently?

Vieregger, Carl - 2014

The capital allocation process is a fundamental, organizational capability that drives value creation. The bulk of extant empirical research, as well as evidence from prominent field studies, concludes that the capital allocation process is a significant capability weakness: managers appear to...

Persistent link: https://www.econbiz.de/10013047590

Unbalanced financial globalization

Capelle, Damien; Pellegrino, Bruno - 2023

We examine the impact of the last five decades of financial globalization on world GDP and income distribution, using a novel multi-country dynamic general equilibrium model that incorporates a demand system for international assets. We introduce, estimate and validate new country-level measures...

Persistent link: https://www.econbiz.de/10014340224

Investment and efficiency under incentive regulation : the case of the Norwegian electricity distribution networks

Poudineh, Rahmatallah; Jamasb, Tooraj - 2013

Persistent link: https://www.econbiz.de/10009754555