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The substitution elasticity, factor shares, long-run growth, and the low-frequency panel model

Chirinko, Robert S.; Mallick, Debdulal - 2014

investment. While their estimation strategies and ours are similar in relying on permanent (long-run) components, we identify …

Persistent link: https://www.econbiz.de/10010383304

Using military build-ups to capture fiscal shocks : a reassessment

Yang, Weonho; Fidrmuc, Jan; Ghosh, Sugata - 2014

Ramey (2011a) and others argue that increases in government spending associated with wars and military build-ups constitute a good instrument for measuring the macroeconomic effects of fiscal shocks. We argue that this instrument has two important drawbacks: the composition of government...

Persistent link: https://www.econbiz.de/10010256126

Government spending shocks and the multiplier : new evidence from the US based on natural disasters

Yang, Weonho; Fidrmuc, Jan; Ghosh, Sugata - 2012

The literature on estimating macroeconomic effects of fiscal policy requires suitable instruments to identify exogenous and unanticipated spending shocks. So far, the instrument of choice has been military build-ups. This instrument, however, largely limits the analysis to the US as few other...

Persistent link: https://www.econbiz.de/10009683406

Natural disasters, government spending, and the fiscal multiplier

Fidrmuc, Jan; Ghosh, Sugata; Yang, Weonho - 2015

We estimate the fiscal multiplier associated with shocks to government spending. We consider increases in government spending in the U.S. states in the wake of natural disasters to capture spending shocks that are both unexpected and unrelated to the preceding state of the economy. We find that...

Persistent link: https://www.econbiz.de/10011406560

What happened to U.S. business dynamism?

Akcigit, Ufuk; Ates, Sina T. - 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/10012104132

Does electricity drive structural transformation? : evidence from the United States

Gaggl, Paul; Gray, Rowena; Marinescu, Ioana; Morin, Miguel - 2019

Electricity is a general purpose technology and the catalyst for the second industrial revolution. Developing countries are currently making huge investments in electrification, with a view to achieving structural change. What does history say about its impact on the structure of employment? We...

Persistent link: https://www.econbiz.de/10012120246

That elusive elasticity : a long-panel approach to estimating the capital-labor substitution elasticity : presented at CESifo Area Conference on Public Sector Economics, May 2004

Chirinko, Robert S.; Fazzari, Steven M.; Meyer, Andrew P. - 2004

supply schedules - inherent in investment equations that can bias the estimated elasticity. Results are based on an extensive …

Persistent link: https://www.econbiz.de/10011450090

Common ownership, competition, and top management incentives

Antón, Miguel; Ederer, Florian; Giné, Mireia; … - 2016

We show theoretically and empirically that executives are paid less for their own firm's performance and more for their rivals' performance if an industry's firms are more commonly owned by the same set of investors. Higher common ownership also leads to higher unconditional total pay. We...

Persistent link: https://www.econbiz.de/10011561142

Policy uncertainty and manufacturing investment : evidence from U.S. State elections

Shelton, Cameron A.; Falk, Nathan - 2016 - This draft: March 2016

We estimate the effect of electorally induced policy uncertainty on investment in the manufacturing sector. Because …, and because the policies relevant to business investment vary systematically by party, uncertainty over the partisan … affiliation of the future governor is a source of political risk to firms considering business investment. More importantly, the …

Persistent link: https://www.econbiz.de/10011451061

Can government demand stimulate private investment? : evidence from U.S. federal procurement

Hebous, Shafik; Zimmermann, Tom - 2019

We study the effects of federal purchases on firm investment using a novel panel dataset that combines federal … firms’ capital investment by 10 to 13 cents. In line with the financial accelerator model, our findings indicate that the …-level analysis suggests that that the increase in investment at the firm level translates into an industry-wide effect without …

Persistent link: https://www.econbiz.de/10011982234