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The causal effects of an industrial policy
Criscuolo, Chiara; Martin, Ralf; Overman, Henry G; Van … - C.E.P.R. Discussion Papers - 2012
Business support policies designed to raise productivity and employment are common worldwide, but rigorous micro … positive program treatment effect on employment, investment and net entry but not on TFP. OLS underestimates program effects …,300 suggesting that in some respects investment subsidies can be cost effective. …
Persistent link: https://www.econbiz.de/10011084352
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The 1920s and the 1990s in Mutual Reflection
Gordon, Robert J - C.E.P.R. Discussion Papers - 2005
fixed investment that became excessive and proved to be unsustainable, while the productivity acceleration helps to account … productivity growth linked to the delayed effects of previously invented 'general purpose technologies' stimulated an increase in …-01 collapse of investment and the stock market proves that good public policy matters, going beyond the narrowly defined …
Persistent link: https://www.econbiz.de/10005792478
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Austerity
Dellas, Harris; Niepelt, Dirk - C.E.P.R. Discussion Papers - 2014
favorable loan package; that it is associated with over-investment even when investment does not create collateral; and that low …
Persistent link: https://www.econbiz.de/10011145392
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Austerity in 2009-2013
Alesina, Alberto F; Barbiero, Omar; Favero, Carlo A.; … - C.E.P.R. Discussion Papers - 2015
The conventional wisdom is (i) that fiscal austerity was the main culprit for the recessions experienced by many countries, especially in Europe, since 2010 and (ii) that this round of fiscal consolidation was much more costly than past ones. The contribution of this paper is a clarification of...
Persistent link: https://www.econbiz.de/10011145403
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From strangers to partners in the hemisphere: New Prospects in Australia’s Economic Relations with Latin America
Kenyon, Don; Eng, Pierre van der - Research School of Economics, College of Business and … - 2011
From marginal relevance, the trade and business relations between Australia and Latin America have grown during the past two decades. A proximate reason is that they diversified to encompass a greater range of manufactures and services. Differences in the business environments of Australia and...
Persistent link: https://www.econbiz.de/10009131009
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Investment and capital structure of partially private regulated firms
Cambini, Carlo; Spiegel, Yossi - C.E.P.R. Discussion Papers - 2011
We develop a model that examines the capital structure and investment decisions of regulated firms in a setting that …
Persistent link: https://www.econbiz.de/10009209829
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A Gains from Trade Perspective on Macroeconomic Fluctuations
Beaudry, Paul; Portier, Franck - C.E.P.R. Discussion Papers - 2011
Business cycles reflect changes over time in the amount of trade between individuals. In this paper we show that incorporating explicitly intra-temporal gains from trade between individuals into a macroeconomic model can provide new insight into the potential mechanisms driving economic...
Persistent link: https://www.econbiz.de/10009221567
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Which Terror at Which Cost? On the Economic Consequences of Terrorist Attacks
Llussá, Fernanda; Tavares, José - C.E.P.R. Discussion Papers - 2010
Consumption and Investment are significantly and negatively affected by all terror indicators, and the largest impact is …
Persistent link: https://www.econbiz.de/10008680754
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Habit Formation and Fiscal Transmission in Open Economies
Cardi, Olivier; Müller, Gernot - C.E.P.R. Discussion Papers - 2010
model. We find that i) government spending increases output and induces a simultaneous decline of investment and the current … account, but does not affect consumption; ii) the responses of output and investment are smaller in more open economies, while … simultaneous decline in investment and the current account. …
Persistent link: https://www.econbiz.de/10008684676
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Has the U.S. Finance Industry Become Less Efficient? On the Theory and Measurement of Financial Intermediation
Philippon, Thomas - C.E.P.R. Discussion Papers - 2014
A quantitative investigation of financial intermediation in the U.S. over the past 130 years yields the following results : (i) the finance industry’s share of GDP is high in the 1920s, low in the 1950s and 1960s, and high again in the 1990s and 2000s; (ii) most of these variations can be...
Persistent link: https://www.econbiz.de/10011083657