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Inflation Expectations and Firm Decisions : New Causal Evidence

Coibion, Olivier - 2018

We use a unique design feature of a survey of Italian firms to study the causal effect of inflation expectations on firms' economic decisions. In the survey, a randomly chosen subset of firms is repeatedly treated with information about recent inflation whereas other firms are not. This...

Persistent link: https://www.econbiz.de/10012481059

Keeping Up with the Jansens : Causal Peer Effects on Household Spending, Beliefs and Happiness

Rooij, Maarten van; Coibion, Olivier; Georgarakos, Dimitris - National Bureau of Economic Research - 2024

How strong are peer effects on the beliefs and spending decisions of individuals? We use a randomized control study in which treated households are told about either average income or debt of individuals like them to assess how peer effects influence their beliefs and spending. The information...

Persistent link: https://www.econbiz.de/10014486199

Globalization, Governance, and the Returns to Cross-Border Acquisitions

Ellis, Jesse - 2011

Using a sample of control cross-border acquisitions from 61 countries from 1990 to 2007, we find that acquirers from countries with better governance gain more from such acquisitions and their gains are higher when targets are from countries with worse governance. Other acquirer country...

Persistent link: https://www.econbiz.de/10012461981

Globalization and innovation in emerging markets

Gorodnichenko, Yuriy - 2008

Globalization brings opportunities and pressures for domestic firms in emerging markets to innovate and improve their competitive position. Using data on firms in 27 emerging market economies, we estimate the effects of foreign competition, vertical linkages with foreign firms, and international...

Persistent link: https://www.econbiz.de/10012464166

Does Foreign Entry Spur Innovation?

Gorodnichenko, Yuriy - 2015

Our estimates, based on large firm-level and industry-level data sets from eighteen countries, suggest that FDI and trade have strong positive spillover effects on product and technology innovation by domestic firms in emerging markets. The FDI effect is more pronounced for firms from advanced...

Persistent link: https://www.econbiz.de/10012457154

Why Does Fast Loan Growth Predict Poor Performance for Banks?

Fahlenbrach, Rüdiger - 2016

From 1973 to 2014, the common stock of U.S. banks with loan growth in the top quartile of banks over a three-year period significantly underperforms the common stock of banks with loan growth in the bottom quartile over the next three years. The benchmark-adjusted cumulative difference in...

Persistent link: https://www.econbiz.de/10012456585

Consumption Inequality and the Frequency of Purchases

Coibion, Olivier - 2017

We document a decline in the frequency of shopping trips in the U.S. since 1980 and consider its implications for the measurement of consumption inequality. A decline in shopping frequency as households stock up on storable goods (i.e. inventory behavior) will lead to a rise in expenditure...

Persistent link: https://www.econbiz.de/10012455324

Are Larger Banks Valued More Highly?

Minton, Bernadette A. - 2017

of a within-bank negative relation between valuation and size for large banks from 1987 to 2006 but not when the post …-Dodd-Frank period is included in the sample. The negative relation between bank value and bank size for large banks cannot be … Tobin's q lower by 0.2% in regressions with year and bank fixed effects. This relation between bank value and trading assets …

Persistent link: https://www.econbiz.de/10012455469

The Response of Consumer Spending to Changes in Gasoline Prices

Gelman, Michael - 2016

impact across consumers of the sudden, large drop in gasoline prices in 2014 for identification. This estimation strategy is …

Persistent link: https://www.econbiz.de/10012455711

Why Does Capital No Longer Flow More to the Industries with the Best Growth Opportunities?

Lee, Dong - 2016

With functionally efficient capital markets, we expect capital to flow more to the industries with the best growth opportunities. As a result, these industries should invest more and see their assets grow more relative to industries with the worst growth opportunities. We find that industries...

Persistent link: https://www.econbiz.de/10012455756