Similar Search Results

Wage and Price Joint Dynamics at the Firm Level : An Empirical Analysis

Horny, Guillaume - 2010

This article provides evidence about the interrelationships between wages and prices at the microeconomic level. We rely on the right-to manage model to specify and estimate a multivariate model explaining the timing and magnitude of wage changes at the firm level. The modeling of price changes...

Persistent link: https://www.econbiz.de/10013135218

Carbon Taxes, Path Dependency and Directed Technical Change : Evidence from the Auto Industry

Aghion, Philippe - 2014

Can directed technical change be used to combat climate change? We construct new firm-level panel data on auto industry innovation distinguishing between "dirty" (internal combustion engine) and "clean" (e.g. electric and hybrid) patents across 80 countries over several decades. We show that...

Persistent link: https://www.econbiz.de/10013064941

Technology, Information and the Decentralization of the Firm

Acemoglu, Daron - 2014

decentralization decisions of firms. Centralized control relies on the information of the principal, which we equate with publicly … available information. However, the manager can use her informational advantage to make choices that are not in the best … interest of the principal. As the available public information about the specific technology increases, the trade-off shifts in …

Persistent link: https://www.econbiz.de/10012752291

Financial Systems and the Role of Banks in Monetary Policy Transmission in the Euro Area

Ehrmann, Michael - 2010

This paper offers a comprehensive comparison of the structure of banking and financial markets in the euro area. Based on this, several hypotheses about the role of banks in monetary policy transmission are developed. Many of the predictions that have been proposed for the U.S. are deemed...

Persistent link: https://www.econbiz.de/10013134951

Is There a Bank Lending Channel in France? Evidence from Bank Panel Data

Loupias, Claire - 2010

The aim of this paper is to check the possible existence of a bank lending channel in France. For that purpose, we have estimated a dynamic reduced form model allowing for asymmetries in loan supply across banks, depending on their size, liquidity and capitalization. We have used a panel of 312...

Persistent link: https://www.econbiz.de/10013134954

Lumpy Price Adjustments : A Microeconometric Analysis

Dhyne, Emmanuel - 2010

This paper presents a simple model of state-dependent pricing that allows identification of the relative importance of the degree of price rigidity that is inherent to the price setting mechanism (intrinsic) and that which is due to the price's driving variables (extrinsic). Using two data sets...

Persistent link: https://www.econbiz.de/10013137336

Turbulence, Firm Decentralization and Growth in Bad Times

Aghion, Philippe - 2017

the value of local information increases (the “localist” view). On the other hand, the need to make tough decisions may …

Persistent link: https://www.econbiz.de/10012957377

Exchange Rate Volatility and Productivity Growth : The Role of Financial Development

Aghion, Philippe - 2010

This paper offers empirical evidence that real exchange rate volatility can have a significant impact on long-term rate of productivity growth, but the effect depends critically on a country%u2019s level of financial development. For countries with relatively low levels of financial development,...

Persistent link: https://www.econbiz.de/10012761684

Firm Dynamics and Growth Measurement in France

Aghion, Philippe - 2018

Statistical agencies typically impute inflation for disappearing products based on surviving products, which may result in overstated inflation and understated growth. This paper uses the theory and methodology developed by Aghion et al. (2017) to quantify in the case of France how much of...

Persistent link: https://www.econbiz.de/10012921492

Volatility and Growth : Credit Constraints and Productivity-Enhancing Investment

Aghion, Philippe; Banerjee, Abhijit V.; Angeletos, … - 2021

We examine how credit constraints affect the cyclical behavior of productivity-enhancing investment and thereby volatility and growth. We first develop a simple growth model where firms engage in two types of investment: a short-term one and a long-term productivity-enhancing one. Because it...

Persistent link: https://www.econbiz.de/10013252334