Showing 1 - 10 of 446
We study the relation between firms financial structure, access to external finance and labor productivity using a … to estimate the direct impact of access to finance to firm-level productivity. We find negative and significant effects … estimated loss of around 21% of their labor productivity. In addition, each country would gain on average between one and two …
Persistent link: https://www.econbiz.de/10015298389
We investigate the effect of sovereign stress and of unconventional monetary policy on small firms' financing patterns during the euro area debt crisis. We find that after the crisis started, firms in stressed countries were more likely to be credit rationed, both in the quantity and in the...
Persistent link: https://www.econbiz.de/10015298399
increase in fossil fuel prices on sectoral size, labor productivity, and inflation. A hike in the price of fossil resources … display higher idiosyncratic productivity. While this process enhances average labor productivity, it also results in a … cost in terms of output and lower average productivity, but leads to a faster recovery in business dynamism. Thus, our …
Persistent link: https://www.econbiz.de/10015275439
This paper provides a new cross-country evaluation of competitiveness, focusing on the linkages between productivity … establish new stylized facts regarding the joint distributions of the firm-level exports performance and productivity in a panel …-exporters. However, this productivity premium is rising with the export experience of firms, with permanent exporters being much more …
Persistent link: https://www.econbiz.de/10015301279
Persistent link: https://www.econbiz.de/10015301872
This paper follows the Bayesian time-varying VAR approach with stochastic volatility developed by Primiceri (2005), to analyze whether the reaction of output and prices to interest rate and exchange rate shocks has changed across time (1996-2012) in the Polish economy. The empirical findings...
Persistent link: https://www.econbiz.de/10015302567
This paper examines whether the minutes of the Bank of England's Monetary Policy Committee (MPC) have provided markets with additional information about the future course of monetary policy. The paper conducts an econometric approach based on an Ordered Probit model explaining future policy rate...
Persistent link: https://www.econbiz.de/10015298949
We present a DSGE model where firms optimally choose among alternative instruments of external finance. The model is used to explain the evolving composition of corporate debt during the financial crisis of 2008-09, namely the observed shift from bank finance to bond finance, at a time when the...
Persistent link: https://www.econbiz.de/10015298753
We propose a novel, multilaterally consistent productivity approach-based indicator to assess the international price … attention has been paid to an appropriate selection of price and productivity data in levels as opposed to indices, and to the …
Persistent link: https://www.econbiz.de/10015301975
The change in macroeconomic conditions since the ECB's strategy review in 2021 towards an environment characterised by above-target inflation, high interest rates, and renewed concerns about elevated government debt has been a vocal reminder of the intricate interdependencies between monetary...
Persistent link: https://www.econbiz.de/10015321150