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The Influence of Irving Fisher on Milton Friedman's Monetary Economics
Bordo, Michael David; Rockoff, Hugh - National Bureau of Economic Research (NBER) - 2011
first on Fisher's influences in monetary theory (the quantity theory of money, the Fisher effect, Gibson's Paradox, the … monetary theory of business cycles, and the Phillips Curve, and empirics, e.g. distributed lags.). Then we discuss Fisher and …
Persistent link: https://www.econbiz.de/10009226780
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Multinational Firms and the Structure of International Trade
Antras, Pol; Yeaple, Stephen Ross - National Bureau of Economic Research (NBER) - 2013
This article reviews the state of the international trade literature on multinational firms. This literature addresses three main questions. First, why do some firms operate in more than one country while others do not? Second, what determines in which countries production facilities are...
Persistent link: https://www.econbiz.de/10010969233
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Self-Selection into Credit Markets: Evidence from Agriculture in Mali
Karlan, Dean; Udry, Christopher; Beaman, Lori; … - National Bureau of Economic Research (NBER) - 2014
We partnered with a micro‐lender in Mali to randomize credit offers at the village level. Then, in no- loan control villages, we gave cash grants to randomly selected households. These grants led to higher agricultural investments and profits, thus showing that liquidity constraints bind with...
Persistent link: https://www.econbiz.de/10010969288
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Learning Capitalism the Hard Way--Evidence from Germany's Reunification
Triebs, Thomas P.; Tumlinson, Justin - National Bureau of Economic Research (NBER) - 2013
Communism in East Germany sought to dampen the effect of market forces on firm productivity for nearly 40 years. How did East German firms respond to the free market after being thrust into it in 1990? We use a formal learning model and German business survey data to analyze the lasting impact...
Persistent link: https://www.econbiz.de/10010950641
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Estimating the Impact of Microcredit on Those Who Take It Up: Evidence from a Randomized Experiment in Morocco
Crépon, Bruno; Duflo, Esther; Devoto, Florencia; … - National Bureau of Economic Research (NBER) - 2014
This paper reports the results from a randomized evaluation of a microcredit program introduced in rural areas of Morocco starting in 2006 by Al Amana, the country's largest microfinance institution. Al Amana was the only MFI operating in the study areas during the evaluation period. Thirteen...
Persistent link: https://www.econbiz.de/10010950654
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Hoping to Win, Expected to Lose: Theory and Lessons on Micro Enterprise Development
Karlan, Dean; Udry, Christopher; Knight, Ryan - National Bureau of Economic Research (NBER) - 2012
relaxed, and find mixed support for this theory. …
Persistent link: https://www.econbiz.de/10010950711
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The Miracle of Microfinance? Evidence from a Randomized Evaluation
Duflo, Esther; Banerjee, Abhijit; Glennerster, Rachel; … - National Bureau of Economic Research (NBER) - 2013
This paper reports on the first randomized evaluation of the impact of introducing the standard microcredit group-based lending product in a new market. In 2005, half of 104 slums in Hyderabad, India were randomly selected for opening of a branch of a particular microfinance institution...
Persistent link: https://www.econbiz.de/10010950913
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Job Security Does Affect Economic Efficiency: Theory, A New Statistic, and Evidence from Chile
Petrin, Amil; Sivadasan, Jagadeesh - National Bureau of Economic Research (NBER) - 2006
dynamic theory of plant-level labor demand that we develop. This model speaks clearly on one issue: firing costs drive a wedge …
Persistent link: https://www.econbiz.de/10005248820
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A Comment on Nishimura, Nakajima, and Kiyota's "Does the natural selection mechanism still work in severe recessions? Examination of the Japanese economy in the 1990s"
Horioka, Charles Yuji; Okada, Tae - National Bureau of Economic Research (NBER) - 2007
Nishimura et al. (2005) analyze the entry/exit behavior of Japanese firms during the 1990s and find that relatively efficient firms exited while relatively inefficient firms survived during the banking-crisis period of 1996-97. They conclude that the natural selection mechanism (NSM) apparently...
Persistent link: https://www.econbiz.de/10005084454
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When Should Firms Invest in Old Capital?
Jovanovic, Boyan - National Bureau of Economic Research (NBER) - 2008
This paper studies optimal investment policies when the production function depends on capital of various vintages. In such an environment it is natural to ask whether the firm will invest in old-vintage capital at all. In this paper I derive such a condition. Predictably, investment in old...
Persistent link: https://www.econbiz.de/10005084618