: (1) distribution expenses are large - they amount to over half of labor costs; (2) plants in the largest decile …, distribution costs as a share of sales declined by one third. We develop a model of heterogeneous manufacturing firms that rely on … share. In combination with the model, these trends suggest largescale decreases in both variable and fixed costs of …

This paper reviews how recent studies of banking crises differ with regard to the dating, length, and costs of the … crisis costs. Cross-sectional evidence does not show that the length of a crisis is a significant contributor to its …

examine stylized fiscal reforms including the replacement of a distortionary output tax with a uniform consumption tax and …

, and total net worth) on consumption. The study uses longitudinal household-level data?from the Panel Study of Income …

Past studies on the relationship between electricity consumption and temperature have primarily focused on individual … by satellites, night light has a strong linear relationship with electricity consumption and is correlated with both its … extensive and intensive margins. Using night light as a proxy for electricity consumption at the grid level, we find: (1) there …

show that a boom-bust cycle in debt, asset prices and consumption characterizes the equilibrium dynamics of a model with a …

This paper proposes a new effect of firing costs on firms'' behavior that builds from firms'' demand for liquidity … firing costs reduces the value of labor''s liquidity service, which affects firms'' demand for liquidity, and thus, firms …'' demand for inputs. In addition to this negative effect at the creation margin, I also show that firing costs imply relatively …