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technology shocks in explaining aggregate fluctuations. To this end we estimate the model's posterior density using Markov …
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This paper examines how product market competition affects firms' timing of adopting a new technology as well as …. When goods are differentiated enough, adoption occurs later than it is socially optimal. -- technology adoption …
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Rethinking the foundations of Heckscher-Ohlin theory when countries have different technologies, this paper shows how to make the proper adjustments for international productivity differences. The central tool is a factor conversion matrix that computes the local factor content of foreign...
Persistent link: https://www.econbiz.de/10003983245
This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … dynamics, where firms rely on banks and households for capital financing. Firms are identical ex ante but differ ex post due to … different realizations of firm specific technology shocks, possibly leading to default by some firms. The paper advances a new …
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For sufficiently low abatement costs many countries might undertake significant emission reductions even without any international agreement on emission reductions. We consider a situation where a coalition of countries does not cooperate on emission reductions but cooperates on the development...
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