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outcomes. The UK, Sweden, Canada and the US obtain the highest management scores closely followed by Germany, with a gap to …
Persistent link: https://www.econbiz.de/10013044342
and firm-level productivity in Germany. In our preferred TFP estimates only a small fraction of this correlation is …
Persistent link: https://www.econbiz.de/10012996465
This paper investigates the relationship between product market competition (PMC) and innovation. A growth model is … reduce innovation incentives for laggards. There are four key predictions. First, the relationship between product market … competition (PMC) and innovation is an inverted U-shape. Second, the equilibrium degree of technological neck-and-neckness' among …
Persistent link: https://www.econbiz.de/10013230578
Economists have long puzzled over the astounding differences in productivity between firms and countries. For example, looking at disaggregated data on U.S. manufacturing industries, Syverson (2004a) found that plants at the 90th percentile produced four times as much as the plant in the 10th...
Persistent link: https://www.econbiz.de/10008654267
Persistent link: https://www.econbiz.de/10010357243
This paper investigates the impact of the history of crises on macroeconomic performance. We first study the impact of past banking crises on the probability of a future banking crisis. Applying data for 1980‐2010 for all countries for which the required information is available, controlling...
Persistent link: https://www.econbiz.de/10013098139
The global crisis of 2008 raises many questions regarding the long‐term response to crises. We know that households that lost access to credit, for example, were forced to adjust and increase saving. But, will households keep on saving more than they would have done otherwise had the global...
Persistent link: https://www.econbiz.de/10013081508
Assessing the economic impact of the COVID-19 pandemic is essential for policymakers, but challenging because the crisis has unfolded with extreme speed. We identify three indicators – stock market volatility, newspaper-based economic uncertainty, and subjective uncertainty in business...
Persistent link: https://www.econbiz.de/10012837188
What is the optimal form of firm organization during “bad times”? We present a model of delegation within the firm to show that the effect is ambiguous. The greater turbulence following macro shocks may benefit decentralized firms because the value of local information increases (the...
Persistent link: https://www.econbiz.de/10012957377
We estimate the impact of the extensity of macroprudential policies on the correlation of the policy interest rates between the center economies (CEs, i.e., the U.S., Japan, and the Euro area), and the peripheral economies (PHs). We find a more extensive implementation of macroprudential...
Persistent link: https://www.econbiz.de/10012941469