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Fuzzy Frontiers of Production : Evidence of Persistent Inefficiency in Safety Expenditures
Ichniowski, Casey - 1984
This study documents a strong inverse relationship between accident rates and production in a sample of eleven firms in the same narrowly defined industry classification. Given the detailed set of input controls and controls for plant-specific and time-specific factors used in the analysis, the...
Persistent link: https://www.econbiz.de/10012477724
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Efficient Recapitalization
Philippon, Thomas - 2009
We analyze government interventions to recapitalize a banking sector that restricts lending to firms because of debt overhang. We find that the efficient recapitalization program injects capital against preferred stock plus warrants and conditions implementation on sufficient bank participation....
Persistent link: https://www.econbiz.de/10012463719
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Self-Fulfilling Credit Market Freezes
Bebchuk, Lucian A. - 2010
This paper develops a model of a self-fulfilling credit market freeze and uses it to study alternative governmental responses to such a crisis. We study an economy in which operating firms are interdependent, with their success depending on the ability of other operating firms to obtain...
Persistent link: https://www.econbiz.de/10012462621
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Social Finance
Kuchler, Theresa - 2020
We review an empirical literature that studies the role of social interactions in driving economic and financial decision making. We first summarize recent work that documents an important role of social interactions in explaining household decisions in housing and mortgage markets. This...
Persistent link: https://www.econbiz.de/10012482193
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Moral Incentives in Credit Card Debt Repayment : Evidence from a Field Experiment
Bursztyn, Leonardo - 2015
We study the role of morality in debt repayment, using an experiment with the credit card customers of a large Islamic bank in Indonesia. In our main treatment, clients receive a text message stating that "non-repayment of debts by someone who is able to repay is an injustice." This moral appeal...
Persistent link: https://www.econbiz.de/10012457058
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The Impact of Plant-level Resource Reallocations and Technical Progress on U.S. Macroeconomic Growth
Petrin, Amil - 2011
reallocations and plant-level technical efficiency changes while allowing in the estimation for 459 different production … than aggregate technical efficiency. Our estimates of the contribution of reallocation range from 1.7% to 2.1% per year …, while our estimates of the average contribution of aggregate technical efficiency growth range from 0.2% to 0.6% per year …
Persistent link: https://www.econbiz.de/10012461957
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Financial constraints and innovation : Why poor countries don't catch up
Gorodnichenko, Yuriy - 2010
This paper examines micro-level channels of how financial development can affect macroeconomic outcomes like the level of income and export intensity. We investigate theoretically and empirically how financial constraints affect a firm's innovation and export activities, using unique firm survey...
Persistent link: https://www.econbiz.de/10012462858
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Education and Nonmarket Outcomes
Grossman, Michael - 2005
education has productive efficiency and allocative efficiency effects. I then modify these frameworks to allow for the …
Persistent link: https://www.econbiz.de/10012467095
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Productivity, Efficiency, Scale Economies and Technical Change : A New Decomposition Analysis
Nemoto, Jiro - 2005
to explore the sources of the productivity change. In summary, technical change and efficiency change are two of the most … shocks also caused downturns in the early and mid 90s. On the other hand, demand shocks captured by the efficiency change …
Persistent link: https://www.econbiz.de/10012467310
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Vertical Integration and Distance to Frontier
Acemoglu, Daron - 2002
We construct a model where the equilibrium organization of firms changes as an economy approaches the world technology frontier. In vertically integrated firms, owners (managers) have to spend time both on production and innovation activities, and this creates managerial overload, and...
Persistent link: https://www.econbiz.de/10012469519