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Mark-up and Capital Structure of the Firm facing Uncertainty
Chatelain - EconWPA - 2004
This note shows that, with pre-set price and capital decisions of firms facing uncertainty and financial market imperfections, price, mark up and the expected degree of capacity utilization (resp. capital) decreases (resp. increases) with the firm internal net worth.
Persistent link: https://www.econbiz.de/10005134898
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ICT productivity and firm propensity to innovative investment: learning effect evidence from italina micro data
Atzeni, Gianfranco Enrico; Carboni, Oliviero Antonio - EconWPA - 2005
This work attempts to shed light on the “information technology productivity paradox”. Employing a large data set of … Italian manufacturing firms we compute ICT marginal productivity across different cluster of firms and the impact of …/introduction behaviour and firm’s technological investment aptitude have any role in explaining ICT productivity. We find that low capital …
Persistent link: https://www.econbiz.de/10005076878
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La productividad en la industria española: Evidencia microeconómica
Huergo, Elena; Moreno, Lourdes - EconWPA - 2005
El objetivo de este trabajo es ofrecer una revisión de las principales regularidades que, desde una óptica microeconómica, se han observado en los trabajos que analizan la evolución de la productividad y los determinantes de su crecimiento en la economía española durante las últimas...
Persistent link: https://www.econbiz.de/10005134478
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Banking sector output and labour productivity in six European countries
Mörttinen, Leena - EconWPA - 2004
discussion on possible causes of productivity change in banking. We demonstrate how the banking sector’s service production can … productivity Tornqvist indices for six countries (Finland, Sweden, United Kingdom, Germany, France and Italy) over a period varying … from 11 to 20 years. According to the results, Finnish banking sector productivity has improved via a substantial reduction …
Persistent link: https://www.econbiz.de/10005134839
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Size and Efficiency in African Manufacturing Firms:Evidence from Firm-Level Panel Data
Söderbom, Måns; Teal, Francis - EconWPA - 2004
a non-homothetic technology. Observable skills are not quantitatively important as determinants of productivity …
Persistent link: https://www.econbiz.de/10005118707
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Liquidation Triggers and the Valuation of Equity and Debt
Galai, Dan; Raviv, Alon; Wiener, Zvi - EconWPA - 2003
Net-worth covenants, as introduced by Black and Cox (1976), provide the firm’s bondholders with the right to force reorganization or liquidation if the value of the firm falls below a certain threshold. In the event of default, however, many bankruptcy codes stipulate an automatic stay of...
Persistent link: https://www.econbiz.de/10005561605
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Inflation, Output, and Stabilization in a High Inflation Economy: Turkey, 1980-2000
Dibooglu, Selahattin; Kibritcioglu, Aykut - EconWPA - 2001
This paper surveys and examines the sources of fluctuations in inflation and output in Turkey. Using a dynamic open economy aggregate supply - aggregate demand model with imperfect capital mobility and structural vector-autoregressions, the authors consider real oil price, supply, balance of...
Persistent link: https://www.econbiz.de/10005126163
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Inflation, Output Growth, and Stabilization in Turkey, 1980-2002
Dibooglu, Sel; Kibritcioglu, Aykut - EconWPA - 2003
Using a dynamic aggregate supply and aggregate demand model with imperfect capital mobility and structural VARs, we decompose inflation and output movements into those attributable to terms of trade, supply, balance-of-payments, fiscal, and monetary shocks. Empirical results show that terms of...
Persistent link: https://www.econbiz.de/10005126299
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Factores que inciden sobre la posibilidad de una desaceleración económica y objetivos de política económica en Puerto Rico
Rodríguez, Carlos A. - EconWPA - 2004
The evolution of the economy of Puerto Rico has been characterized by a long period of economic instability, decelerating therefore the economic activity, in most of the studied years. For such reason, in this work, by means of the creation of binary choice models, the factors that affect the...
Persistent link: https://www.econbiz.de/10005126319
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The Misallocation of Resources of Anticipated Inflation
Frenkel, Michael; Mehrez, Gil - EconWPA - 1997
heterogeneous in their productivity and are free to move between the two sectors. Hence workers with high productivity in the … financial sector choose to work in the financial sector, where they can earn high wages, while workers with low productivity …
Persistent link: https://www.econbiz.de/10005126418