Showing 1 - 10 of 116
Persistent link: https://www.econbiz.de/10003294662
Persistent link: https://www.econbiz.de/10011666869
Buyout booms form in response to declines in the aggregate risk premium. We document that the equity risk premium is the primary determinant of buyout activity rather than credit-specific conditions. We articulate a simple explanation for this phenomenon: a low risk premium increases the present...
Persistent link: https://www.econbiz.de/10012986691
Persistent link: https://www.econbiz.de/10012006180
In this paper we study "investment tournaments," a class of decision problems that involve gradual allocation of … investment among several alternatives whose values are subject to exogenous shocks. The decision-maker's payoff is determined by … broad range of cases it is optimal for the decision-maker in each time period to allocate all resources to the most …
Persistent link: https://www.econbiz.de/10013158033
What is the impact of time-varying business uncertainty on economic activity? Using partly confidential business survey data from the U.S. and Germany in structural VARs, we find that positive innovations to business uncertainty lead to prolonged declines in economic activity. In contrast, their...
Persistent link: https://www.econbiz.de/10013141840
Persistent link: https://www.econbiz.de/10003719314
Persistent link: https://www.econbiz.de/10003649378
Persistent link: https://www.econbiz.de/10003744849
Persistent link: https://www.econbiz.de/10003774504