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We construct company panel datasets for manufacturing firms in Belgium, France, Germany and the UK, covering the period … 1978-89. These datasets are used to estimate a range of empirical investment equations, and to investigate the role played … the suggestion that financial constraints on investment may be relatively severe in the more market-oriented UK financial …
Persistent link: https://www.econbiz.de/10012472928
Using a new survey of European households, we study how exogenous variation in the macroeconomic uncertainty perceived by households affects their spending decisions. We use randomized information treatments that provide different types of information about the first and/or second moments of...
Persistent link: https://www.econbiz.de/10012496179
We use micro data from the European Social Survey to investigate the impact of "culture of leisure" and taxes on labor force participation and hours worked of second-generation immigrants who reside in 26 European countries. These individuals are born in Europe, and they have been exposed to...
Persistent link: https://www.econbiz.de/10012457370
Over the past century the long-run growth of six economies shows a strong association between investment in machinery …, and that a high rate of machinery investment is a necessary prerequisite for rapid long-run productivity growth - a …
Persistent link: https://www.econbiz.de/10012475084
We estimate the impact of the COVID-19 crisis on business failures among small and medium size enterprises (SMEs) in seventeen countries using a large representative firm-level database. We use a simple model of firm cost-minimization and measure each firm's liquidity shortfall during and after...
Persistent link: https://www.econbiz.de/10012481180
Over the U.S. business cycle, fluctuations in residential investment are well known to systematically lead GDP. These … dynamics are documented here to be specific to the U.S. and Canada. In other developed economies residential investment is … broadly coincident with GDP. Nonresidential investment has the opposite dynamics, being coincident with or lagging GDP. These …
Persistent link: https://www.econbiz.de/10012460228
We provide new evidence on how monetary policy affects investment and firm finance in the United States and the United … conditioning on size, asset growth, Tobin's Q, leverage or liquidity - and drive the response of aggregate investment. Older … and financial frictions in amplifying the effects of monetary policy on investment …
Persistent link: https://www.econbiz.de/10012481014
measures of liquidity on the investment decisions of U. K. firms. These variables are introduced via an extension of the Q … model of investment which explicitly includes agency/financial distress costs. We discuss if the significance of cash flow …
Persistent link: https://www.econbiz.de/10012475929
the adjustment of manufacturing employment and hours in West Germany, France and Belgium, three countries with strong job … regulations that occurred in Germany, France and Belgium during the 1980s affected employers' adjustment to changes in output …
Persistent link: https://www.econbiz.de/10012474563
We investigate how labor and investment demand at the firm level (gross as well as net and replacement investment … for the important changes and differences in labor and investment demand between the two subperiods and across the three …
Persistent link: https://www.econbiz.de/10012477531