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Leverage Dynamics and Financial Flexibility
Bolton, Patrick - 2020
We develop a q theory of investment with endogenous leverage, payout, hedging, and risk-taking dynamics. The key … seeks to preserve its financial flexibility by prudently managing its leverage and investment. Paradoxically, it is the high …
Persistent link: https://www.econbiz.de/10012479326
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Investment Under Uncertainty and the Value of Real and Financial Flexibility
Bolton, Patrick - 2014
alter the standard real options results, with the financial flexibility conferred by internal funds acting as a complement …, and at times as a substitute, to the real flexibility given by the optimal timing of investment. We show that: 1) the … be convex in liquidity) due to the interaction between financial and real (growth/abandonment) flexibility; 3) with …
Persistent link: https://www.econbiz.de/10012458055
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Market Design in Cap and Trade Programs : Permit Validity and Compliance Timing
Holland, Stephen P. - 2012
Cap and trade programs have considerable heterogeneity in permit validity and compliance timing. For example, permits have different validity across time (e.g., banking, borrowing, and seasons) and space (e.g., zonal restrictions), and compliance timing can be annual, in overlapping cycles, or...
Persistent link: https://www.econbiz.de/10012460561
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Intermediaries in International Trade : Direct versus indirect modes of export
Bernard, Andrew B. - 2011
This paper examines the factors that give rise to intermediaries in exporting and explores the implications for trade volumes. Export intermediaries such as wholesalers serve different markets and export different products than manufacturing exporters. In particular, high market-specific fixed...
Persistent link: https://www.econbiz.de/10012460946
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On the Connections between Intertemporal and Intra-temporal Trades
Ju, Jiandong - 2011
This paper develops a new theory of international economics by introducing Heckscher-Ohlin features of intra … account towards its long-run equilibrium. We present empirical evidence consistent with the theory …
Persistent link: https://www.econbiz.de/10012461109
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The Timing of Labor Demand
Cardoso, Ana Rute - 2008
We examine the timing of firms' operations in a formal model of labor demand. Merging a variety of data sets from Portugal from 1995-2004, we describe temporal patterns of firms' demand for labor and estimate production-functions and relative labor-demand equations. The results demonstrate the...
Persistent link: https://www.econbiz.de/10012464082
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Labor Supply in the Past, Present, and Future : a Balanced-Growth Perspective
Boppart, Timo - 2016
What explains how much people work? Going back in time, a main fact to address is the steady reduction in hours worked. The long-run data, for the U.S. as well as for other countries, show a striking pattern whereby hours worked fall steadily by a little below a half of a percent per year,...
Persistent link: https://www.econbiz.de/10012456460
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Studies in labor markets : [papers presented at the Conference on Low Income Labour Markets held at ... 9 and 10 june 1978]
Rosen, Sherwin (ed.) - 1981
Persistent link: https://www.econbiz.de/10000072556
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Fear, Unemployment and Pay Flexibility
Blanchflower, David G. - 1990
The paper uses newly available cross-section data to study wage determination in the United Kingdom in the 1980s. The results are contrasted with those from a comparable sample from the US from 1977-1988
Persistent link: https://www.econbiz.de/10012475668
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Labor Market Institutions, Constraints, and Performance
Freeman, Richard B. - 1988
This study examines the changes in labor market institutions and outcomes across (ECD countries in the past two decades and relates indicators of the institutions to outcomes. It has four findings. First, there has been an increased divergence in labor market institutions, with unionisation...
Persistent link: https://www.econbiz.de/10012476507