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Gourinchas, Pierre-Olivier - 2020

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

COVID-19 and SMEs : A 2021 "Time Bomb"?

Gourinchas, Pierre-Olivier; Kalemli-Ozcan, Sebnem; … - National Bureau of Economic Research - 2021

This paper assesses the prospects of a 2021 time bomb in SME failures triggered by the generous support policies enacted during the 2020 COVID-19 crisis. Policies implemented in 2020, on their own, do not create a 2021 "time-bomb" for SMEs. Rather, business failures and policy costs remain...

Persistent link: https://www.econbiz.de/10012482634

A Note on Detecting Learning by Exporting

De Loecker, Jan - 2010

Learning by exporting refers to the mechanism whereby firms improve their performance (productivity) after entering export markets. Although this mechanism is often mentioned in policy documents, a significant share of econometric studies has not found evidence for this hypothesis. This paper...

Persistent link: https://www.econbiz.de/10012462109

Daily Cross-Border Equity Flows : Pushed or Pulled?

Griffin, John M. - 2002

In a model that is consistent with the existence of a home bias and with foreign investors that are less informed than domestic investors, we show that unexpectedly high worldwide returns lead to net equity inflows into small countries. In addition, a small country experiences net equity inflows...

Persistent link: https://www.econbiz.de/10012469714

Dynamic Olley-Pakes Productivity Decomposition with Entry and Exit

Melitz, Marc J. - 2012

In this paper, we propose an extension of the productivity decomposition method developed by Olley & Pakes (1996). This extension provides an accounting for the contributions of both firm entry and exit to aggregate productivity changes. It breaks down the contribution of surviving firms into a...

Persistent link: https://www.econbiz.de/10012460478

Why Doesn't Capitalism Flow to Poor Countries?

Tella, Rafael Di - 2007

corruption, which is more widespread in poor countries, reduces more the electoral appeal of capitalism than that of socialism …

Persistent link: https://www.econbiz.de/10012465489

State Versus Private Ownership

Shleifer, Andrei - 1998

costs must be strong. In essence, this is the case for capitalism over socialism, explaining the dynamic vitality' of free … enterprise. The great economists of the 1930s and 1940s failed to see the dangers of socialism in part because they focused on … the role of prices under socialism and capitalism and ignored the enormous importance of ownership as the source of …

Persistent link: https://www.econbiz.de/10012472146

Pervasive Shortages Under Socialism

Shleifer, Andrei - 1991

We present a new theory of pervasive shortages under socialism, based on the assumption that the planners are self … suggests that market socialism is bound to fail even without computational complexities facing the planners …

Persistent link: https://www.econbiz.de/10012475209

Left, Right, Left : Income, Learning and Political Dynamics

Morrow, John - 2013

The political left turn in Latin America, which lagged its transition to liberalized market economies by a decade or more, challenges conventional economic explanations of voting behavior. This paper generalizes the forward-looking voter model to a broad range of dynamic, non-concave income...

Persistent link: https://www.econbiz.de/10012459164

Financial Crisis in a Socialist Setting : Impact on Political Behavior, Social Trust, and Economic Values

Abramitzky, Ran; Ben-Porath, Netanel; Lavy, Victor; … - National Bureau of Economic Research - 2023

Research on the political and social impacts of financial crises has focused chiefly on free market economies, hindering our understanding of their effects in other settings. We exploit an episode of a financial crisis that hit the Israeli kibbutzim to study its impact in a socialist context....

Persistent link: https://www.econbiz.de/10014226115