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Productivity growth, knowledge flows and spillovers
Crespi, Gustavo; Criscuolo, Chiara; Haskel, Jonathan E.; … - London School of Economics (LSE) - 2007
three questions (a) What is the source of knowledge flows? (b) To what extent do such flows contribute to productivity …
Persistent link: https://www.econbiz.de/10011071306
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ENDOGENOUS GROWTH AND THE PROCYCLICAL BEHAVIOUR OF PRODUCTIVITY.
BEAN, C. - London School of Economics (LSE) - 1989
Persistent link: https://www.econbiz.de/10005625922
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The impact of risk regulation on price dynamics
Danielsson, Jon; Shin, Hyun Song; Zigrand, Jean-Pierre - London School of Economics (LSE) - 2004
Most financial risk regulations assume that asset returns are exogenous, where risk is estimated from historical data. This assumption fails to take into account the feedback effect of trading decisions on prices. We investigate the consequences of risk constrained trading by means of...
Persistent link: https://www.econbiz.de/10011126542
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Business fluctuations in Imperial Austria's regions, 1867-1913: new evidence
Ciccarelli, Carlo; Missiaia, Anna - London School of Economics (LSE) - 2014
This paper presents annual estimates of total and per-capita GDP at 1910 prices for the regions of Imperial Austria … discontinuity of per-capita GDP growth partitions Austria's regions into two groups. Clear evidence of discontinuity (a “take … Austria, Bohemia, Silesia, Galicia, Bukovina, and Dalmatia there is instead no evidence of structural break in their growth …
Persistent link: https://www.econbiz.de/10011125886
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Law enforcement under incomplete law: theory and evidence from financial market regulation
Pistor, Katharina; Xu, Cheng-Gang - London School of Economics (LSE) - 2002
This paper studies the design of law-making and law enforcement institutions based on the premise that law is inherently incomplete. Under incomplete law, law enforcement by courts may suffer from deterrence failure, defined as the socialwelfare loss that results from the regime's inability to...
Persistent link: https://www.econbiz.de/10010746149
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Have the US macro-financial linkages changed? the balance sheet dimension
Gerba, Eddie - London School of Economics (LSE) - 2014
We establish a set of US stylized facts on prices, quantities and balance sheets, assess the consistency of the current generation of financial DSGE models to these, and provide guidance on the challenges ahead. We mainly find four aspects which future financial friction models should take into...
Persistent link: https://www.econbiz.de/10011126533
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The value of insolvency safe harbours
Paech, Philipp - London School of Economics (LSE) - 2015
‘Safe harbour’ is shorthand for a bundle of privileges in insolvency which are typically afforded to financial institutions. They are remotely comparable to security interests as they provide a financial institution with a considerably better position as compared to other creditors should...
Persistent link: https://www.econbiz.de/10011264787
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THE EFFECT OF THE STOCK MARKET ON INVESTMENT: A COMPARATIVE STUDY
MULLINS, M.; WADHWANI, S. - London School of Economics (LSE) - 1988
Persistent link: https://www.econbiz.de/10005776299
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Banking and Commerce: A Liquidity Approach.
Haubrich, J.G.; Santos, J.A.C. - London School of Economics (LSE) - 1999
This paper looks at the advantages and disadvantages of mixing banking and commerce, using the "liquidity" approach to financial intermediation. Adding a commercial firm makes it easier for a bank to dispose of assets seized in a loan default. This 'internal market' increases the liquidity of...
Persistent link: https://www.econbiz.de/10005475173
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Robots at work
Graetz, Georg; Michaels, Guy - London School of Economics (LSE) - 2015
panel of industries in 17 countries from 1993-2007. We find that industrial robots increased both labor productivity and ….37 percentage points. We also find that robots increased both wages and total factor productivity. While robots had no significant …
Persistent link: https://www.econbiz.de/10011198536