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We construct a general equilibrium New-Keynesian model in which firms differ in characteristics such as size, book value, sensitivity to market demand and degree of price stickiness. This establishes an explicit economic relation between firm level characteristics and the relationship between...
Persistent link: https://www.econbiz.de/10005706303
of firm investment and demand for labor with imperfect capital markets, represented as a constraint on dividends, and … firm investment, which does not happen if only labor market rigidities are removed. …
Persistent link: https://www.econbiz.de/10005706194
making. In this paper, I present the first estimation results of investment expenditure for the french economy, applying the …
Persistent link: https://www.econbiz.de/10005537414
In this paper we present the first estimation results of total investment expenditure for the Romanian economy …
Persistent link: https://www.econbiz.de/10005537625
accelerator appears to play an important role in investment fluctuations, but its importance for output depends on the nature of …
Persistent link: https://www.econbiz.de/10005537513
We connect two major strands of the recent monetary policy literature, i) the search for well microfounded optimising models consistent with macroeconomic data, especially persistence in inflation, and ii) the wealth of newly available microeconomic data on price changing behaviour from the...
Persistent link: https://www.econbiz.de/10005132602
We provide analytical and empirical underpinnings for the notion that the financial fragility of the aggregate economy depends on the balance sheet conditions of the corporate sector. First, we obtain time-varying semiparametric estimates of the relationship between the debt-equity ratio and the...
Persistent link: https://www.econbiz.de/10005132653
past inequality and the rate of investment, directly affect the relationship between base period inequality and subsequent … inequality are growth promoting. Moreover, it is found that lower investment rates mitigate the negative effects of higher …
Persistent link: https://www.econbiz.de/10005132664
Empirical literature on investment and output dynamics is characterized by two robust stylized facts at the macro level …. First, investment is considerably more volatile than output. Second, fluctuations of output and investment are highly … synchronized. Furthermore, at the micro level, firm investment appears to be very lumpy. In this paper, we ask whether the two …
Persistent link: https://www.econbiz.de/10005132800
than workers. A central question of this paper is whether using and/or un-using of a foreign investment change the …
Persistent link: https://www.econbiz.de/10005132869