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Income Versus Prices : How Does the Business Cycle Affect Food (In)-Security?

Bogmans, Christian; Pescatori, Andreas; Prifti, Ervin - 2022

We study how two aspects of food insecurity - caloric insufficiency and diet composition - are affected by aggregate economic fluctuations. The use of cross-country panel data allows us to adopt a global prospective on the identification of the macroeconomic determinants of food insecurity....

Persistent link: https://www.econbiz.de/10013306746

A Macroeconomic Approach to the Term Premium

Kopp, Emanuel - 2018

In recent years, term premia have been very low and sometimes even negative. Now, with the United States economy growing above potential, inflationary pressures are on the rise. Term premia are very sensitive to the expected future path of growth, inflation, and monetary policy, and an inflation...

Persistent link: https://www.econbiz.de/10012913929

Size Distribution of Firms, Cournot, and Optimal Taxation

Gersovitz, Mark - 2007

Tax laws and administrations often treat different size firms differently. There is, however, little research on the consequences. As modeled here, oligopolists with different efficiencies determine the size distribution of firms. A government that maximizes a weighted sum of consumer surplus,...

Persistent link: https://www.econbiz.de/10012777963

How Does Bank Competition Affect Solvency, Liquidity and Credit Risk? Evidence from the MENA Countries

Almarzoqi, Raja - 2015

the credit risk from the borrower's side. In both cases, country-specific policies for market entry conditions-and for …

Persistent link: https://www.econbiz.de/10013011203

How Do Regulations of Entry and Credit Access Relate to Industry Competition? International Evidence

Igan, Deniz - 2018

We examine the extent to which regulations of entry and credit access are related to competition using data on 28 … manufacturing sectors across 64 countries. A robust finding is that bureaucratic and costly entry regulations tend to hamper … competition, as proxied by the price-cost margin, in the industries with a naturally high entry rate. Rigid entry regulations are …

Persistent link: https://www.econbiz.de/10012918554

Mutual fund bets on market power

Jaspersen, Stefan - 2020 - [Vers. 12/2020]

Taking a firm's competitive position into account benefits investors who are better at evaluating this qualitative information. I find that fund managers who overweight companies with market power outperform their peers. Placebo exercises and an exogenous shock to product market competition...

Persistent link: https://www.econbiz.de/10012414777

Betting on market power : product market competition and mutual funds' information production

Jaspersen, Stefan - 2019 - (Vers. 03/2019)

Processing qualitative information about a firm's product market competition matters for fund performance. I find that fund managers with a better understanding of a firm's market power exhibit a superior risk-adjusted performance. Managers who overweight companies with the fewest competitors...

Persistent link: https://www.econbiz.de/10011983783

Mutual fund bets on market power

Jaspersen, Stefan - 2020 - [Vers. 01/2020]

Processing qualitative information about a firm's product market competition matters for professional investors. Consistent with a superior understanding of a firm's market power, fund managers who overweight companies with the fewest competitors (monopolies) outperform their peers. An exogenous...

Persistent link: https://www.econbiz.de/10012160111

Mutual fund bets on market power

Jaspersen, Stefan - 2021 - [Vers. 02/2021]

Taking a firm’s competitive position into account benefits investors who are better at evaluating this qualitative information. I find that fund managers who overweight companies withmarket power outperform their peers. Placebo exercises and an exogenous shock to productmarket competition...

Persistent link: https://www.econbiz.de/10012429433

Extensive Margin Adjustment of Multi-Product Firm and Risk Diversification

Carvalho, Carlos - 2017

Product scope adjustment is a key mechanism through which multi-product firms achieve efficient resource allocations. In this paper, we take a novel perspective to study firms' product scope adjustment behavior through the lens of asset pricing. Using a unique panel scanner data set containing...

Persistent link: https://www.econbiz.de/10012950405