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How Efficient are Firms in Transition Countries? Firm-Level Evidence from Bulgaria and Romania

Konings, Jozef; Repkin, Alexander - C.E.P.R. Discussion Papers - 1998

industries using firm-level panel data. The technical efficiency of firms is found to vary significantly both within and across … industrial sectors in each country. We find strong evidence of a positive relationship between firm technical efficiency levels … between firm efficiency and size is also found to be positive, suggesting big industrial firms in the former planned economies …

Persistent link: https://www.econbiz.de/10005792075

Exchange Rate Pass-Through to Consumer Prices in South Africa: Evidence from Micro-Data

Aron, Janine; Creamer, Kenneth; Muellbauer, John; … - C.E.P.R. Discussion Papers - 2013

A sizeable literature examines exchange rate pass-through to disaggregated import prices but very few micro-studies focus on consumer prices. This paper explores exchange rate pass-through to consumer prices in South Africa during 2002-2007, using a unique data set of highly disaggregated data...

Persistent link: https://www.econbiz.de/10011084277

Firm Default and Aggregate Fluctuations

Jacobson, Tor; Kindell, Rikard; Lindé, Jesper; … - C.E.P.R. Discussion Papers - 2008

This paper studies the relation between macroeconomic fluctuations and corporate defaults while conditioning on industry affiliation and an extensive set of firm-specific factors. Using a multiperiod logit approach on a panel data set for all incorporated Swedish businesses over 1990-2002, we...

Persistent link: https://www.econbiz.de/10005504257

Shifting Credit Standards and the Boom and Bust in US House Prices

Duca, John V; Muellbauer, John; Murphy, Anthony - C.E.P.R. Discussion Papers - 2011

The U.S. house price boom has been linked to an unsustainable easing of mortgage credit standards. However, standard time series models of US house prices omit credit constraints and perform poorly in the 2000’s. We incorporate data on credit constraints for first time buyers into a model of...

Persistent link: https://www.econbiz.de/10009001066

House Prices and Credit Constraints: Making Sense of the US Experience

Duca, John V; Muellbauer, John; Murphy, Anthony - C.E.P.R. Discussion Papers - 2011

Most US house price models break down in the mid-2000's, due to the omission of exogenous changes in mortgage credit supply (associated with the sub-prime mortgage boom) from house price-to-rent ratio and inverted housing demand models. Previous models lack data on credit constraints facing...

Persistent link: https://www.econbiz.de/10009003148

The Great Mortgaging: Housing Finance, Crises, and Business Cycles

Jordà, Òscar; Schularick, Moritz; Taylor, Alan M. - C.E.P.R. Discussion Papers - 2014

This paper unveils a new resource for macroeconomic research: a long-run dataset covering disaggregated bank credit for 17 advanced economies since 1870. The new data show that the share of mortgages on banks’ balance sheets doubled in the course of the 20th century, driven by a sharp rise of...

Persistent link: https://www.econbiz.de/10011083232

Efficiency and Market Share in the Hungarian Corporate Sector

Halpern, László; Kõrösi, Gábor - C.E.P.R. Discussion Papers - 2000

market economy. It is widely believed that competition has a positive effect on efficiency, but the theoretical and empirical … support is quite scarce. The objective of this paper is to investigate the link between competition and efficiency for the … production functions indicate a gradual improvement in efficiency and a shift from decreasing to increasing returns to scale due …

Persistent link: https://www.econbiz.de/10005136413

Bidding in Mandatory Bankruptcy Auctions: Theory and Evidence

Eckbo, B Espen; Thorburn, Karin S - C.E.P.R. Discussion Papers - 2005

We analyse bidding incentives and present evidence on takeover premiums in Sweden’s mandatory bankruptcy auctions. The typical auction attracts multiple bidders and results in the firm being sold as a going concern. We model the incentive of the bankrupt firm’s main creditor (a bank) to...

Persistent link: https://www.econbiz.de/10005792429

Credit Risk Transfer and Financial Sector Performance

Marsh, Ian W; Wagner, Wolf - C.E.P.R. Discussion Papers - 2004

In this Paper we study the impact of credit risk transfer (CRT) on the stability and the efficiency of a financial …

Persistent link: https://www.econbiz.de/10005662362

Food and Cash Transfers: Evidence from Colombia

Attanasio, Orazio; Battistin, Erich; Mesnard, Alice - C.E.P.R. Discussion Papers - 2009

We study food Engel curves among the poor population targeted by a conditional cash transfer programme in Colombia. After controlling for the endogeneity of total expenditure and for the (unobserved) variability of prices across villages, the best fit is provided by a log-linear specification....

Persistent link: https://www.econbiz.de/10005016243

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