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Distributional consequences of capital accumulation, globalisation and financialisation in the US
Karanassou, Marika; Sala, Hector - 2013
In this paper we examine the dynamic contributions of capital accumulation, globalisation, and financialisation to the functional-personal income distribution nexus. We analyse the labour share under the prism of monopoly and frictional growth, and disclose the dramatic upward trend in...
Persistent link: https://www.econbiz.de/10009717716
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Investment crowding-out and labor market effects of financialization in the US
González, Ignacio; Sala, Hector - 2013
This paper studies the impact of financialization on unemployment in the U.S. We estimate a dynamic multi …-equation macro labor model including labor demand, labor supply, wage-setting and capital accumulation equations. Financialization … swings experienced by the financialization process. We find that it has had relevant unemployment effects in all periods …
Persistent link: https://www.econbiz.de/10009721371
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On measuring uncertainty : snakes and ladders
Junankar, Pramod N. - 2016
households and lower investment by firms, and hence leads to lower aggregate investment and growth. This paper argues that …
Persistent link: https://www.econbiz.de/10011543578
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The economic effects of COVID-19 and credit constraints: evidence from Italian firms' expectations and plans
Balduzzi, Pierluigi; Brancati, Emanuele; Brianti, Marco; … - 2020
. Most firms revise downward their expectations for sales, orders, employment, and investment, while prices are expected to …
Persistent link: https://www.econbiz.de/10012271637
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Real estate prices and corporate investment : theory and evidence of heterogeneous effects across firms
Fougère, Denis; Lecat, Rémy; Ray, Simon - 2018
In this paper, we investigate the effect of real estate prices on productive investment. We build a simple theoretical … framework of firms' investment with credit rationing and real estate collateral. We show that real estate prices affect firms … identification of the second channel allows for heterogeneous effects of real estate prices on investment across firms. We test our …
Persistent link: https://www.econbiz.de/10011951732
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Warrant economics, call-put policy options and the fallacies of economic theory
Hatgioannides, John; Karanassou, Marika - 2011
In this paper we aim to trace the roots of the ongoing economic mayhem and to unmask the chorus of the tragedy which plays on the world stage. The main thesis of our work is that, despite the triumphant rhetoric praising the merits of perfect competition, the global fields of the dysfunctional...
Persistent link: https://www.econbiz.de/10009524338
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Capitalism recoupled
Kelly, Colm; Snower, Dennis J. - 2021
- globalization, technological advance and financialization (GTF) - that have weakened the connections between economies and societies …
Persistent link: https://www.econbiz.de/10012583534
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Assessing the impact of incomes policy : the italian experience
Pastore, Francesco - 2010
The Saint Valentine's decree (1984) and the ensuing hard fought referendum (1985), which reduced the automatisms of scala mobile, started a process of redefinition of wage fixing in Italy, which culminated with the final abolition of scala mobile (1992) and the approval of Protocollo d'intesa...
Persistent link: https://www.econbiz.de/10008779168
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Macroeconomic dynamics in a model of goods, labor and credit market frictions
Petrosky-Nadeau, Nicolas; Wasmer, Etienne - 2011
Building a model with three imperfect markets - goods, labor and credit - representing a product's life-cycle, we find that goods market frictions drastically change the qualitative and quantitative dynamics of labor market variables. The calibrated model leads to a significant reduction in the...
Persistent link: https://www.econbiz.de/10009307979
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A steady-state model of a non-walrasian economy with three imperfect markets
Wasmer, Etienne - 2011
Unemployment may depend on equilibrium in other markets than the labor markets. This paper adresses this old idea by introducing search frictions on several markets: in a model of credit and labor market imperfections as in Wasmer and Weil (2004), I further introduce search on the goods market....
Persistent link: https://www.econbiz.de/10009308020