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Capital structure, investment, and fire sales

Gale, Douglas; Gottardi, Piero - London School of Economics (LSE) - 2014

We study a dynamic general equilibrium model in which firms choose their investment level and their capital structure, trading off the tax advantages of debt against the risk of costly default. The costs of bankruptcy are endogenously determined, as bankrupt firms are forced to liquidate their...

Persistent link: https://www.econbiz.de/10011170093

Greek fiscal crisis and repercussions for the property market

Vlamis, Prodromos - London School of Economics (LSE) - 2013

The aim of the paper is to present a review of the fiscal imbalances and debt crisis in Greece and identify the possible links with the recent developments in the Greek property market. We follow a non-technical approach to discuss a number of factors that have contributed to the fiscal crisis...

Persistent link: https://www.econbiz.de/10011071100

Agglomeration in a global economy: a survey

Ottaviano, Gianmarco I. P.; Puga, Diego - London School of Economics (LSE) - 1997

cluster together, turning location into a self-reinforcing process. However, agglomeration raises the price of immobile local …

Persistent link: https://www.econbiz.de/10010745164

Regional convergence clusters across Europe

Megir, Costas; Quah, Danny - London School of Economics (LSE) - 1995

Per capita incomes across European regions are not equal and do not stay constant; regional income distributions uctuate over time. Such a process could have many possible limiting outcomes: complete equal- ity (convergence), stratication, and continually increasing inequality are but three...

Persistent link: https://www.econbiz.de/10010884518

Spatial evolution of the US urban system

Ioannides, Yannis; Overman, Henry G. - London School of Economics (LSE) - 2000

We test implications of economic geography models for location, size and growth of cities with US Census data for 1900 û 1990. Our tests involve non-parametric estimations of stochastic kernels for the distributions of city sizes and growth rates, conditional on various measures of market...

Persistent link: https://www.econbiz.de/10010884544

Economic geography and international inequality

Redding, Stephen; Venables, Anthony J. - London School of Economics (LSE) - 2001

This paper estimates a structural model of economic geography using cross-country data on per capita income, bilateral trade, and the relative price of manufacturing goods. More than 70% of the variation in per capita income can be explained by the geography of access to markets and to sources...

Persistent link: https://www.econbiz.de/10010884566

Trade shocks and industrial location: the impact of EEC accession on the UK

Overman, Henry G.; Winters, L. Alan - London School of Economics (LSE) - 2006

This paper combines establishment level production data with international trade data by port to examine the impact of accession to the EEC on the spatial distribution of UK manufacturing. We use this data to test the predictions from economic geography models of how external trade affects the...

Persistent link: https://www.econbiz.de/10010928631

The Impact of Public Employment: Evidence from Bonn

Becker, Sascha; Heblich, Stephan; Sturm, Daniel - European Regional Science Association - 2013

This paper evaluates the impact of relocations of public employment across cities on private sector activity. To identify the effect of changes in public employment on the private sector, we exploit the relocation of the German Federal Government from Berlin to Bonn in the wake of the Second...

Persistent link: https://www.econbiz.de/10010740335

Spatial inequalities in Russia: dynamic and sectoral analysis

Kolomak, Evgeniya - European Regional Science Association - 2013

inequalities and test the presence of agglomeration economies over the observed period. We use the Theil index to analyze the … observed period. To evaluate the magnitude of agglomeration economy we regress the logarithm of labor productivity on the … further concentration of the economic activity and interregional divergence in Russia. Forces behind agglomeration economy and …

Persistent link: https://www.econbiz.de/10010740353

The Role of Geography and Institutions in determining FDI flows into Italian Provinces

Battista, Attilio Di - European Regional Science Association - 2013

This paper describes the determinants of FDI location among Italian provinces, focusing on the role of market potential (in terms of market access to Mediterranean and European countries) and institutions (presence of Mafia-type crime, corruption of public officers, inefficiency of the labour...

Persistent link: https://www.econbiz.de/10010740438