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Optimal Capital Allocation Using RAROC(tm) and EVA
Stoughton, Neal; Zechner, Josef - C.E.P.R. Discussion Papers - 2004
This Paper analyses firms’ capital allocation decisions when optimal capital structure is linked to the risk of underlying assets and when equity capital is costly and cannot be raised instantaneously. In the model, division managers receive private information and authority is delegated to...
Persistent link: https://www.econbiz.de/10005662320
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Short-Termism as Optimal Investment Policy
Brusco, Sandro - C.E.P.R. Discussion Papers - 1999
short-termism. We show that when managerial ability has a multiplicative impact on revenue then the first best investment …
Persistent link: https://www.econbiz.de/10005791287
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Did the Malaysian Capital Controls Work?
Kaplan, Ethan; Rodrik, Dani - C.E.P.R. Discussion Papers - 2001
Malaysia recovered from the Asian financial crisis swiftly after the imposition of capital controls in September 1998 … play a significant role in facilitating Malaysia’s rebound. However, the financial crisis was deepening in Malaysia in the …
Persistent link: https://www.econbiz.de/10005123814
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Investment and capital structure of partially private regulated firms
Cambini, Carlo; Spiegel, Yossi - C.E.P.R. Discussion Papers - 2011
We develop a model that examines the capital structure and investment decisions of regulated firms in a setting that …
Persistent link: https://www.econbiz.de/10009209829
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A Gains from Trade Perspective on Macroeconomic Fluctuations
Beaudry, Paul; Portier, Franck - C.E.P.R. Discussion Papers - 2011
Business cycles reflect changes over time in the amount of trade between individuals. In this paper we show that incorporating explicitly intra-temporal gains from trade between individuals into a macroeconomic model can provide new insight into the potential mechanisms driving economic...
Persistent link: https://www.econbiz.de/10009221567
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Spain's International Position, 1850-1913
Prados de la Escosura, Leandro - C.E.P.R. Discussion Papers - 2009
us to reject this view. In fact, a net capital inflow made possible to meet the demand for investment boosting economic …
Persistent link: https://www.econbiz.de/10008458296
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Investment Prices and Exchange Rates: Some Basic Facts
Burstein, Ariel Tomas; Neves, Joao C; Rebelo, Sérgio - C.E.P.R. Discussion Papers - 2004
This Paper documents four basic facts about investment goods and investment prices. First, investment has a very …, and transportation) are much less important for investment than for consumption. Third, the import content of investment …
Persistent link: https://www.econbiz.de/10005662174
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Labour Mobility and German Integration: Some Vignettes
Burda, Michael C; Wyplosz, Charles - C.E.P.R. Discussion Papers - 1991
Several alterantive scenarios for the economic integration of East and West Germany are analysed. They all share an amphasis of the rile of migration and labor mobility in this process. The effects of congestion costs, rigid wages, human capital and heterogeneity of migrants, and endogenous...
Persistent link: https://www.econbiz.de/10005662319
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Investment and Usage of New Technologies: Evidence from a Shared ATM Network
Degryse, Hans; Ferrari, Stijn; Verboven, Frank - C.E.P.R. Discussion Papers - 2007
When new technologies become available, it is not only essential that firms have the correct investment incentives, but … often also that consumers make the proper usage decisions. This paper studies investment and usage in a shared ATM network …. Because all banks coordinate their ATM investment decisions, there is no strategic but only a pure cost-saving incentive to …
Persistent link: https://www.econbiz.de/10005662325
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New Issues in Corporate Finance
Mayer, Colin - C.E.P.R. Discussion Papers - 1987
the provision of long-term finance. This approach suggests that the separation between the analysis of investment and that …
Persistent link: https://www.econbiz.de/10005666432