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Intangible Investment and Low Inflation : A Framework and Some Evidence
Lall, Subir; Zeng, Li - 2021
Intangible investment is growing as a share of economic activity. We present a simple framework incorporating its distinguishing characteristic of generally greater scalability and lower marginal costs than tangible investment. We show evidence that this may have contributed to more elastic...
Persistent link: https://www.econbiz.de/10013315102
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Macroeconomic Policy, Product Market Competition, and Growth : The Intangible Investment Channel
Ahn, JeaBin - 2020
While there is growing evidence of persistent or even permanent output losses from financial crises, the causes remain unclear. One candidate is intangible capital - a rising driver of economic growth that, being non-pledgeable as collateral, is vulnerable to financial frictions. By sheltering...
Persistent link: https://www.econbiz.de/10012840222
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Bank Lending in the Knowledge Economy
Dell'Ariccia, Giovanni - 2017
We study bank portfolio allocations during the transition of the real sector to a knowledge economy in which firms use less tangible capital and invest more in intangible assets. We show that, as firms shift toward intangible assets that have lower collateral values, banks reallocate their...
Persistent link: https://www.econbiz.de/10012942336
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The Tax-Adjusted Q Model with Intangible Assets : Theory and Evidence from Temporary Investment Tax Incentives
Chen, Sophia - 2014
We propose a tax-adjusted q model with physical and intangible assets and estimate it with a self-collected comprehensive database of intangible assets. The presence of intangibles changes the accounting and economic measures of q. We show that when tax changes are temporary, the q model can be...
Persistent link: https://www.econbiz.de/10013050088
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Financial Frictions and the Great Productivity Slowdown
Duval, Romain - 2017
We study the role of financial frictions in explaining the sharp and persistent productivity growthslowdown in advanced economies after the 2008 global financial crisis. Using a rich cross-country,firm-level data set and exploiting quasi-experimental variation in firm-level exposure to the...
Persistent link: https://www.econbiz.de/10012950421
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Will Working from Home Stick in Developing Economies?
Conesa Martinez, Marina; Narita, Futoshi; Papageorgiou, … - 2023
teleworking days per week ranges from 0.7 to 17.6 percentage points across 10 developing countries covered by an online survey to … about 500 respondents per country. An estimated income discount associated with telework disappeared temporarily at the … onset of the pandemic. A calibrated model indicates that workers’ preferences to telework may largely depend on their …
Persistent link: https://www.econbiz.de/10014350157
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The Investment-Financing-Growth Nexus : The Case of Liberia
Rosales, Manuel - 2013
Liberia is facing large infrastructure gaps and developmental needs that constrain the country's growth potential. The government has set an ambitious agenda to transform the economy and to reach middle-income country status by 2030 by scaling up investment in infrastructure and human capital....
Persistent link: https://www.econbiz.de/10013071367
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The Low-Skill, Bad-Job Trap
Snower, Dennis J. - 2008
The paper explains how a country can fall into a quot;low-skill, bad-job trap,quot; in which workers acquire insufficient training and firms provide insufficient skilled vacancies. In particular, the paper argues that in countries where a large proportion of the workforce is unskilled, firms...
Persistent link: https://www.econbiz.de/10012774282
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Education Systems and Foreign Direct Investment : Does External Efficiency Matter?
Wendlassida Miningou, Elise - 2017
This paper examines the effect of the efficiency of the education system on Foreign Direct Investment (FDI). First, it focuses on the external efficiency and applies a frontier-based measure as a proxy of the ability of countries to optimally convert the average years of schooling into income...
Persistent link: https://www.econbiz.de/10012956477
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Gender Equality and Economic Diversification
Kazandjian, Romina - 2016
We show that gender inequality decreases the variety of goods countries produce and export, in particular in low-income and developing countries. We argue that this happens through at least two channels: first, gender gaps in opportunity, such as lower educational enrollment rates for girls than...
Persistent link: https://www.econbiz.de/10012977824