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Hidden Insurance in a Moral Hazard Economy
Bertola, Giuseppe - 2013
We consider an economy where individuals privately choose effort and trade competitively priced securities that pay off with effort-determined probability. We show that if insurance against a negative shock is sufficiently incomplete, then standard functional form restrictions ensure that...
Persistent link: https://www.econbiz.de/10013071425
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Corporate Efficiency, Credit Status and Investment
Quader, Manzur - 2014
's constrained credit status changes with the improvement of its efficiency. The results further reveal that financially constrained …
Persistent link: https://www.econbiz.de/10013051438
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Business Conditions and Default Risks Across Countries
Pflüger, Michael - 2011
The risk of default that business firms face is very significant and differs widely across countries. This paper explores the links between countries' business conditions and international trade embedment and the default risk at the country level from a theoretical point of view. Our main...
Persistent link: https://www.econbiz.de/10013128748
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Business Cycle Effects of Credit and Technology Shocks in a DSGE Model with Firm Defaults
Pesaran, M. Hashem - 2011
This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined … between loan and deposit rates. The effects of the credit shock tend to be highly persistent even without price rigidities and …
Persistent link: https://www.econbiz.de/10013119292
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Microentrepreneurship in Developing Countries
Jayachandran, Seema - 2020
sector; the impacts of access to credit and other financial services; the impacts of business training; barriers to hiring …
Persistent link: https://www.econbiz.de/10012842044
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Inflation Expectations and Firm Decisions : New Causal Evidence
Coibion, Olivier - 2019
them to raise their prices, increase their utilization of credit, and reduce their employment. However, when policy rates …
Persistent link: https://www.econbiz.de/10012894535
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Job Creation, Small vs. Large vs. Young, and the SBA
Brown, J. David - 2015
Analyzing a list of all Small Business Administration (SBA) loans in 1991 to 2009 linked with annual information on all U.S. employers from 1976 to 2012, we apply detailed matching and regression methods to estimate the variation in SBA loan effects on job creation and firm survival across firm...
Persistent link: https://www.econbiz.de/10013012022
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Finance and Growth at the Firm Level : Evidence from SBA Loans
Brown, J. David - 2015
lenders. The estimation results imply an increase of 3-4 jobs for each million dollars of loans, suggesting that credit … for the SBA 504 versus 7(a) programs, and with respect to the business cycle, local credit conditions, and within …
Persistent link: https://www.econbiz.de/10013016226
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Gambling and the Use of Credit : An Individual and Household Level Analysis
Brown, Sarah - 2010
use of credit, at the individual and household level using representative pooled cross-section data drawn from the UK … Expenditure and Food Surveys (EFS), 2001 to 2007. Gambling and the use of credit are shown to be positively correlated at the … between gambling and the use of credit is remarkably stable across household income. In addition to our household level …
Persistent link: https://www.econbiz.de/10013146840
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Do SBA Loans Create Jobs?
Brown, J. David - 2013
Small Business Administration (SBA) loans have long been one of the most significant policy interventions in the U.S. affecting firm behavior, but little is known about their outcomes. This paper estimates the effects on employment using a list of all SBA loans linked to annual data on all U.S....
Persistent link: https://www.econbiz.de/10013077297