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Do Public Firms Respond to Industry Opportunities More Than Private Firms? The Impact of Initial Firm Quality

Maksimovic, Vojislav - 2019

We track firms at birth and compare the growth pattern of IPO firms and their birth-matched counterparts. Firms that are larger at birth with faster initial growth are more likely to attain a larger size later in life and go public. Firms in the top percentile of predicted propensity to go...

Persistent link: https://www.econbiz.de/10012479586

Voluntary Provision of Public Goods for Bads : A Theory of Environmental Offsets

Kotchen, Matthew J. - 2007

This paper examines voluntary provision of a public good that is motivated, in part, to compensate for other activities that diminish the public good. Markets for environmental offsets, such as those that promote carbon neutrality to minimize the impact of climate change, provide an increasingly...

Persistent link: https://www.econbiz.de/10012464996

Allocative Efficiency, Mark-ups, and the Welfare Gains from Trade

Holmes, Thomas J. - 2013

determines how changes in trade frictions affect allocative efficiency in an oligopoly model of international trade, decomposing …

Persistent link: https://www.econbiz.de/10012459387

Keeping it Fresh : Strategic Product Redesigns and Welfare

Blonigen, Bruce A. - 2013

and exit decisions in a dynamic oligopoly model (a la Bajari et al (2007)) and use it to analyse redesign activity in the …

Persistent link: https://www.econbiz.de/10012459665

Private Investment and Government Protection

Kousky, Carolyn - 2006

Hurricane Katrina did massive damage because New Orleans and the Gulf Coast were not appropriately protected. Wherever natural disasters threaten, the government -- in its traditional role as public goods provider -- must decide what level of protection to provide to an area. It does so by...

Persistent link: https://www.econbiz.de/10012466413

Contracting for Government Services : Theory and Evidence from U.S. Cities

Levin, Jonathan - 2007

Local governments can provide services with their own employees or by contracting with private or public sector providers. We develop a model of this "make-or-buy" choice that highlights the trade-off between productive efficiency and the costs of contract administration. We construct a dataset...

Persistent link: https://www.econbiz.de/10012465302

Privatization in Emerging Markets

Aizenman, Joshua - 1998

This paper evaluates the welfare implications of privatization in emerging market economies, in countries where … policies are determined by the median voter. We show that privatization may lead to large efficiency gains by changing the menu … of taxes. We illustrate this point with two examples. First, we consider privatization of import competing public …

Persistent link: https://www.econbiz.de/10012472283

The Secular Decline in Private Firm Leverage

Dobridge, Christine L.; Gilje, Erik P.; Whitten, Andrew - National Bureau of Economic Research - 2022

Using firm-level administrative tax data on the 43% of business liabilities in the United States tied to privately held firms, we document dramatic reductions in leverage since the Great Recession. Leverage for the average private firm fell fifteen percent between 2004 and 2018. In contrast,...

Persistent link: https://www.econbiz.de/10013210062

Monetary Stimulus Amidst the Infrastructure Investment Spree : Evidence from China's Loan-Level Data

Chen, Kaiji - 2020

We study the impacts of the 2009 monetary stimulus and its interaction with infrastructure spending on credit allocation. We develop a two-stage estimation approach and apply it to China's loan-level data that covers all sectors in the economy. We find that except for the manufacturing sector,...

Persistent link: https://www.econbiz.de/10012481311

Dynamic Labor Demand in China : Public and Private Objectives

Cooper, Russell - 2010

This paper studies dynamic labor demand by private and public manufacturing plants in China. It contributes along two dimensions. First, it uncovers the objectives of public enterprises and compares them to private enterprises. Second, it estimates adjustment costs of these plants and thus their...

Persistent link: https://www.econbiz.de/10012462159

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