' post-entry dynamics and aggregate productivity. …

-13 on firm-level productivity in France, Italy and Spain. We show that relying on a single break date in 2008 misses both …-level productivity negatively, high-leverage firms suffer more from financial constraints only in Italy, when they are relatively small … productivity. …

restructuring loans to firms with poor prospects and high default risk, banks not only accelerate the exit of unproductive firms but … process thus fosters firm creation and improves aggregate productivity. It also complements policies that stimulate firm entry …

the literature on wage effects we add a breakdown of variances in heterogeneity and risk. …

We examine asset prices in a representative-agent model of general equilibrium. Assuming only that individuals are risk … averse, we determine conditions on the changes in asset risk that are both necessary and sufficient for the asset price to … incomplete in the sense of containing an uninsurable background risk, such as a risk on labor income. We extend our model to show …

Using a unique plant-level dataset we examine total factor productivity (TFP) growth and its components, related to …

We develop a procedure to estimate production functions, elasticities of demand, and productivity when firms …