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Start-up investment with scarce venture capital support

Kanniainen, Vesa; Keuschnigg, Christian - 2001

Start-up entrepreneurs are often commercially inexperienced. In giving managerial advice, venture capitalists can importantly enhance the success of innovative but highly risky ventures. The supply of experienced venture capitalists is not easily increased, however. When the rate of business...

Persistent link: https://www.econbiz.de/10011398098

Integration vs. outsourcing in industry equilibrium

Grossman, Gene M.; Helpman, Elhanan - 2001

We develop an equilibrium model of industrial structure in which the organization of firms is endogenous. Differentiated consumer products can be produced either by vertically integrated firms or by pairs of specialized companies. Production of each variety of consumer good requires a unique,...

Persistent link: https://www.econbiz.de/10011398409

Public policy for venture capital

Keuschnigg, Christian; Nielsen, Søren Bo - 2001

This paper proposes a simple partial equilibrium model to investigate the effects of government policy on venture capital backed investments. Giving up an alternative career, entrepreneurs focus their effort on a single, high risk venture each. Venture capitalists acquire an equity stake and...

Persistent link: https://www.econbiz.de/10011398877

High frequency trading and fragility

Cespa, Giovanni; Vives, Xavier - 2016

Persistent link: https://www.econbiz.de/10011606787

Market power and welfare in asymmetric divisible good auctions

Manzano Tovar, Carolina; Vives, Xavier - 2016

Persistent link: https://www.econbiz.de/10011609230

Market power and welfare in asymmetric divisible good auctions

Manzano Tovar, Carolina; Vives, Xavier - 2016

information but declines with its transaction costs. In line with empirical evidence, we find that an increase in transaction … costs and/or a decrease in the precision of a bidding group.s information induces a strategic response from the other group …, which thereafter attenuates its response to both private information and prices. A "stronger" bidding group -which has more …

Persistent link: https://www.econbiz.de/10011580637

Is optimal capital-control policy countercyclical in open-economy models with collateral constraints?

Schmitt-Grohé, Stephanie; Uribe, Martín - 2016

Persistent link: https://www.econbiz.de/10011587047

Multiple equilibria in open economy models with collateral constraints : overborrowing revisited

Schmitt-Grohé, Stephanie; Uribe, Martín - 2016

Persistent link: https://www.econbiz.de/10011587050

High frequency trading and fragility

Cespa, Giovanni; Vives, Xavier - 2016

We show that limited dealer participation in the market, coupled with an informational friction resulting from high frequency trading, can induce demand for liquidity to be upward sloping and strategic complementarities in traders' liquidity consumption decisions: traders demand more liquidity...

Persistent link: https://www.econbiz.de/10011587522

How important are terms of trade shocks?

Schmitt-Grohé, Stephanie; Uribe, Martín - 2015

Persistent link: https://www.econbiz.de/10011300226