Showing 1 - 10 of 1,602
We quantify the impact of barriers to international investment, using a novel multi-country dynamic general equilibrium … asset positions. We estimate this gravity equation using recently developed foreign investment data that have been restated … to account for offshore investment and financing vehicles. We show that a parsimonious implementation of the model with …
Persistent link: https://www.econbiz.de/10012514947
firms in making their investment decisions. We use a revealed preference approach that relies on the pattern of investment … spending - combined with investment theory - to estimate the discount rates used by managers. The standard story predicts that … firms with high stock prices and good investment opportunities should have discount rates that do not differ systematically …
Persistent link: https://www.econbiz.de/10009153871
explaining the consumption path after a Marginal Efficiency of Investment shock. We use an otherwise standard medium-scale New …
Persistent link: https://www.econbiz.de/10011515322
Labor market performance has differed considerably between OECD countries over the last two decades. The focus of the literature so far has been to ask whether these differences can be explained by varying degrees of labor market rigidities and generosity of welfare states. This paper takes a...
Persistent link: https://www.econbiz.de/10011408964
This paper analyzes whether differences in institutional structures on capital markets contribute to explaining why some OECD-countries, in particular the Anglo-Saxon countries, have been much more successful over the last two decades in producing employment growth and in reducing unemployment...
Persistent link: https://www.econbiz.de/10011398923
capital investment influences disaggre-gate unemployment. As we expected, venture capital investment has different influences … that venture capital investment is a catalyst of structural change and has contributed to the faster growing internet and …
Persistent link: https://www.econbiz.de/10011506487
, resulted in lower investment, employment, and bank debt for younger and smaller firms. Importantly, these effects dominate … those of banks' balance-sheet variables. We also show that higher CDS spreads led to lower aggregate investment, employment …
Persistent link: https://www.econbiz.de/10011406568
Initially, voting rights were limited to wealthy elites providing political support for stock markets. The franchise expansion induces the median voter to provide political support for banking development as this new electorate has lower financial holdings and benefits less from the uncertainty...
Persistent link: https://www.econbiz.de/10010223450
This paper takes a fresh look at the nature of financial and real business cycles in OECD countries using annual data series and shorter quarterly and monthly economic indicators. It first analyses the main characteristics of the cycle, including the length, amplitude, asymmetry and changes of...
Persistent link: https://www.econbiz.de/10009540104
This paper analyses the impact of exchange rate uncertainty upon the pattern of investment in different exchange rate … exchange rate regimes indicates that currency volatility exerts only a small influence upon the level of investment spending …
Persistent link: https://www.econbiz.de/10011400788