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Strategic Inattention, Inflation Dynamics, and the Non-Neutrality of Money

Afrouzi, Hassan - 2020

How does competition affect information acquisition of firms and thus the response of inflation and output to monetary policy shocks? This paper addresses these questions in a new dynamic general equilibrium model with both dynamic rational inattention and oligopolistic competition. In the...

Persistent link: https://www.econbiz.de/10012836931

History Dependence, Cohort Attachment, and Job Referrals in Networks of Close Relationships

Chen-Zion, Ayal - 2019

We model network formation in a firm. Agents learn about the quality of their working relationships with each other. Their good relationships become their networks. Accumulating relationships becomes increasingly costly, however. Over time agents become less open to forming relationships with...

Persistent link: https://www.econbiz.de/10012858699

What Happened to U.S. Business Dynamism?

Akcigit, Ufuk - 2019

In the past several decades, the U.S. economy has witnessed a number of striking trends that indicate a rising market concentration and a slowdown in business dynamism. In this paper, we make an attempt to understand potential common forces behind these empirical regularities through the lens of...

Persistent link: https://www.econbiz.de/10012861420

Ten Facts on Declining Business Dynamism and Lessons from Endogenous Growth Theory

Akcigit, Ufuk - 2019

In this paper, we review the literature on declining business dynamism and its implications in the United States and propose a unifying theory to analyze the symptoms and the potential causes of this decline. We first highlight 10 pronounced stylized facts related to declining business dynamism...

Persistent link: https://www.econbiz.de/10012861425

Voting with Their Money : Brexit and Outward Investment by UK Firms

Breinlich, Holger - 2019

number of UK outward investment transactions in the remaining EU27 member states, whereas transactions in non-EU OECD … retain access to the EU market after Brexit. At the same time, we find that the number of EU27 investment projects in the UK … has declined by around 9%, illustrating that being a smaller economy than the EU leaves the UK more exposed to the costs …

Persistent link: https://www.econbiz.de/10012865920

Electricity and Firm Productivity : A General-Equilibrium Approach

Fried, Stephie; Lagakos, David - 2022

Many policymakers view power outages as a major constraint on firm productivity in developing countries. Yet empirical studies find modest short-run effects of outages on firm performance. This paper builds a dynamic macroeconomic model to study the long-run general-equilibrium effects of power...

Persistent link: https://www.econbiz.de/10013309487

Firm Heterogeneity, Capital Misallocation and Optimal Monetary Policy

González, Beatriz; Nuño, Galo; Thaler, Dominik; … - 2021

We analyze monetary policy in a New Keynesian model with heterogeneous firms and financial frictions. Firms differ in their productivity and net worth and face collateral constraints that cause capital misallocation. TFP endogenously depends on the time-varying distribution of firms. Although a...

Persistent link: https://www.econbiz.de/10013311708

Measuring Firm Activity from Outer Space

Bilicka, Katarzyna Anna; Seidel, André - 2022

To understand how global firm networks operate, we need consistent information on their activities, unbiased by their reporting choices. In this paper, we collect a novel dataset on the light that factories emit at night for a large sample of car manufacturing plants. We show that nightlight...

Persistent link: https://www.econbiz.de/10013292045

Minimum Wage and Firm Variety

Jha, Priyaranjan; Rodríguez López, Antonio - 2021

Exploiting minimum-wage variation within multi-state commuting zones, we document a negative relationship between minimum wages and firm variety in the U.S. restaurant and retail trade industries. To explain this finding, we construct a heterogeneous-firm model with a monopsonistic labor market...

Persistent link: https://www.econbiz.de/10013211016

Famdata : Database for Family Business Companies in Germany Covering Company Key Figures and Survey Data

Garnitz, Johanna; Maltzan, Annette von; Wohlrabe, Klaus - 2023

FamData is a database covering family businesses and non-family businesses across various size classes and branches containing structural and financial information. The ifo Institute assembled a business panel with executives from almost 4,000 companies. In addition to the “hard” business...

Persistent link: https://www.econbiz.de/10014346838