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Zombie Lending : Theoretical, International and Historical Perspectives
Acharya, Viral V.; Crosignani, Matteo; Eisert, Tim; … - National Bureau of Economic Research - 2022
This paper surveys the theory on zombie lending incentives and the consequences of zombie lending for the real economy. It also offers a historical perspective by reviewing the growing empirical evidence on zombie lending along three dimensions: (i) the role of under-capitalized banks, (ii)...
Persistent link: https://www.econbiz.de/10013190998
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Reorganization
Hall, Robert E. - 1999
One of the productive activities engaging the work force is reorganizing. When factors of production are better matched, productivity is higher. The probabilistic matching model of Diamond, Mortensen, and others provides a way to make the idea of reorganization precise. Because the flow of...
Persistent link: https://www.econbiz.de/10012471607
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Trade Reforms and Market Selection : Evidence from Manufacturing Plants in Colombia
Eslava, Marcela - 2009
We use plant output and input prices to decompose the profit margin into four parts: productivity, demand shocks, mark-ups and input costs. We find that each of these market fundamentals are important in explaining plant exit. We then use variation across sectors in tariff changes after the...
Persistent link: https://www.econbiz.de/10012463713
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Bankruptcy Policy Reform and Total Factor Productivity Dynamics in Korea
Lim, Youngjae - 2003
Using the firm level panel data, obtained from the period between during , this study shows that the failing firms, accepted in the court-administered rehabilitation procedures after the post-crisis bankruptcy reform in Korea, had experienced less persistent problems in the pre-bankruptcy...
Persistent link: https://www.econbiz.de/10012468888
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Firm Heterogeneity, Endogenous Entry, and the Business Cycle
Ottaviano, Gianmarco I.P. - 2011
This paper investigates the role that the entry and exit of heterogeneous firms plays in shaping aggregate fluctuations in economic activity. In so doing, it develops a dynamic stochastic general equilibrium model in which procyclical entry and countercyclical exit along a real business cycle...
Persistent link: https://www.econbiz.de/10012461225
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Privatization's Impacts on State-Owned Enterprises : A Tale of Zombie versus Healthy Firms
Wang, Ruiting - 2024
productivity and TFP, reduces bank and government subsidies, alleviates leverage and administrative expenses, improves liquidity …
Persistent link: https://www.econbiz.de/10015056119
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Liquidity Risk, Liquidity Creation and Financial Fragility : A Theory of Banking
Diamond, Douglas W. - 1999
their investors. We show the bank has to have a fragile capital structure, subject to bank runs, in order to perform these … functions. Far from being an aberration to be regulated away, the funding of illiquid loans by a bank with volatile demand … such as narrow banking and bank capital requirements …
Persistent link: https://www.econbiz.de/10012471328
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Banks as Liquidity Providers : An Explanation for the Co-Existence of Lending and Deposit-Taking
Kashyap, Anil K. - 1999
This paper addresses the following question: what ties together the traditional commercial banking activities of deposit-taking and lending? We begin by observing that since banks often lend via commitments, or credit lines, their lending and deposit-taking may be two manifestations of the same...
Persistent link: https://www.econbiz.de/10012471845
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Bank Liquidity Provision Across the Firm Size Distribution
Chodorow-Reich, Gabriel - 2020
recession. Consistent with the theory, the increase in bank credit in 2020Q1 and 2020Q2 came almost entirely from drawdowns by …-level measures of exposure to the COVID recession. Finally, we match the bank data to a list of participants in the Paycheck … Protection Program (PPP) and show that SME recipients of PPP loans reduced their non-PPP bank borrowing in 2020Q2 by between 53 …
Persistent link: https://www.econbiz.de/10012482165
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Monetary Aggregates and Liquidity in a Neo-Wicksellian Framework
Canzoneri, Matthew - 2008
Woodford (2003) describes a popular class of neo-Wicksellian models in which monetary policy is characterized by an interest-rate rule, and the money market and financial institutions are typically not even modeled. Critics contend that these models are incomplete and unsuitable for...
Persistent link: https://www.econbiz.de/10012464403