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Q-Monetary Transmission
Jeenas, Priit; Lagos, Ricardo - National Bureau of Economic Research - 2022
We study the effects of monetary-policy-induced changes in Tobin's q on corporate investment and capital structure. We … evidence, and quantify the relevance for monetary transmission to aggregate investment …
Persistent link: https://www.econbiz.de/10013210051
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International R&D Spillovers and Institutions
Coe, David T. - 2008
The empirical analysis in "International R&D Spillovers" (Coe and Helpman, 1995) is first revisited by applying modern panel cointegration estimation techniques to an expanded data set that we have constructed for the purpose of this study. The new estimates confirm the key results reported in...
Persistent link: https://www.econbiz.de/10012464577
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Business Group Spillovers
Naaraayanan, S. Lakshmi; Wolfenzon, Daniel - National Bureau of Economic Research - 2023
We compare the investment of standalone firms across regions after a positive shock to the investment opportunities … generated by a large-scale highway development project. We show that the standalones' investment sensitivity is lower in regions …
Persistent link: https://www.econbiz.de/10014250125
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American Disclosure Options
Back, Kerry E.; Carlin, Bruce Ian; Kazempour, Seyed Mohammad - National Bureau of Economic Research - 2023
We study strategic disclosure timing by correlated firms in the presence of risk-averse investors. Firms delay disclosures in the hope that positively correlated firms will announce especially good news and lift their own price. Risk premia rise before disclosures, drop when disclosures occur,...
Persistent link: https://www.econbiz.de/10014447256
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Internalizing Externalities : Disclosure Regulation for Hydraulic Fracturing, Drilling Activity and Water Quality
Bonetti, Pietro; Leuz, Christian; Michelon, Giovanna - National Bureau of Economic Research - 2023
The rise of shale gas and tight oil development has triggered a major debate about hydraulic fracturing (HF). In an effort to mitigate risks from HF, especially with respect to water quality, many U.S. states have introduced disclosure mandates for HF wells and fracturing fluids. We use this...
Persistent link: https://www.econbiz.de/10013537736
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A Model of Intangible Capital
Crouzet, Nicolas; Eberly, Janice C.; Eisfeldt, Andrea L.; … - National Bureau of Economic Research - 2022
, scope, and investment decisions, and we outline their connection to recent macroeconomic and financial trends in the US …
Persistent link: https://www.econbiz.de/10013362030
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Benefits and Spillovers of Greater Competition in Europe : A Macroeconomic Assesment
Bayoumi, Tamim - 2004
Using a general-equilibrium simulation model featuring nominal rigidities and monopolistic competition in product and … labor markets, this paper estimates the macroeconomic benefits and international spillovers of an increase in competition …, greater competition produces large effects on macroeconomic performance, as measured by standard indicators. In particular, we …
Persistent link: https://www.econbiz.de/10012468277
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Selecting the Best? Spillover and Shadows in Elimination Tournaments
Brown, Jennifer - 2011
We consider how past, current, and future competition within an elimination tournament affect the probability that the …
Persistent link: https://www.econbiz.de/10012461018
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Uncertainty Shocks, Capital Flows, and International Risk Spillovers
Akinci, Ozge; Kalemli-Ozcan, Sebnem; Queralto, Albert - National Bureau of Economic Research - 2022
Foreign investors' changing appetite for risk-taking have been shown to be a key determinant of the global financial cycle. Such fluctuations in risk sentiment also correlate with the dynamics of UIP premia, capital flows, and exchange rates. To understand how these risk sentiment changes...
Persistent link: https://www.econbiz.de/10013210054
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A Liberalization Spillover : From Equities to Loans
Liu, Xin - 2020
The opening of equity markets to foreign investment appears to generate an enormously large positive growth effect (see … Bekaert, Harvey, and Lundblad, 2005) in spite of a relatively small role of such markets for financing investment in most …
Persistent link: https://www.econbiz.de/10012481499