Similar Search Results

Capital structure, investment, and fire sales

Gale, Douglas; Gottardi, Piero - London School of Economics (LSE) - 2014

We study a dynamic general equilibrium model in which firms choose their investment level and their capital structure, trading off the tax advantages of debt against the risk of costly default. The costs of bankruptcy are endogenously determined, as bankrupt firms are forced to liquidate their...

Persistent link: https://www.econbiz.de/10011170093

Greek fiscal crisis and repercussions for the property market

Vlamis, Prodromos - London School of Economics (LSE) - 2013

The aim of the paper is to present a review of the fiscal imbalances and debt crisis in Greece and identify the possible links with the recent developments in the Greek property market. We follow a non-technical approach to discuss a number of factors that have contributed to the fiscal crisis...

Persistent link: https://www.econbiz.de/10011071100

Comparative advantage and heterogeneous firms

Bernard, Andrew B.; Redding, Stephen; Schott, Peter K. - London School of Economics (LSE) - 2004

This paper presents a model of international trade that features heterogeneous firms, relative endowment differences … across countries, and consumer taste for variety. The paper demonstrates that firm reactions to trade liberalization generate … wide range of firmlevel reactions to falling trade costs, the model also shows that, as trade costs fall, firms in …

Persistent link: https://www.econbiz.de/10010884531

Relative wage variation and industry location

Bernard, Andrew B.; Redding, Stephen; Schott, Peter K.; … - London School of Economics (LSE) - 2004

Relative wages vary considerably across regions of the United Kingdom, with skill-abundant regions exhibiting lower skill premia than skill-scarce regions. This paper shows that the location of economic activity is correlated with the variation in relative wages. U.K. regions with low skill...

Persistent link: https://www.econbiz.de/10010928674

Endowments, market potential, and industrial location: evidence from interwar Poland (1918-1939)

Wolf, Nikolaus - London School of Economics (LSE) - 2004

The paper explores the determinants of industry location across interwar Poland. After more than 120 years of political and economic separation, Poland was reunified at the end of 1918. In consequence, its industry faced massive structural changes: the removal of internal tariff barriers and...

Persistent link: https://www.econbiz.de/10010744846

Factor endowments and production in European regions

Redding, Stephen; Vera-Martin, Mercedes - London School of Economics (LSE) - 2001

This paper analyses patterns of production across 14 industries in 45 regions from 7 European countries since 1975. We estimate a structural equation derived directly from Heckscher- Ohlin theory that relates an industry’s share of a region’s GDP to factor endowments and relative prices....

Persistent link: https://www.econbiz.de/10010745649

Specialization dynamics

Redding, Stephen - London School of Economics (LSE) - 2002

This paper proposes a new empirical framework for analyzing specialization dynamics. A country’s pattern of specialization is viewed as a distribution across sectors, and statistical techniques for analyzing the evolution of this entire distribution are employed. The empirical framework is...

Persistent link: https://www.econbiz.de/10010745757

Tax cuts in open economies

Cunat, Alejandro; Deak, Szabolcs; Maffezzoli, Marco - London School of Economics (LSE) - 2008

dynamic response of government revenue to a tax cut changes if we allow a Ramsey economy to engage in international trade: the … in the literature: dynamic scoring and the Laffer curve. Our results demonstrate the internaional trade enhances the …

Persistent link: https://www.econbiz.de/10010746525

The log of gravity

Santos Silva, Joao; Tenreyro, Silvana - London School of Economics (LSE) - 2005

using one particular illustration, the gravity equation for trade, and apply the proposed technique to provide new estimates …

Persistent link: https://www.econbiz.de/10010746706

Estimating the extensive margin of trade

Santos Silva, Joao; Tenreyro, Silvana; Wei, Kehai - London School of Economics (LSE) - 2014

relevance for the assessment of trade policies. Estimation of models for the number of exporting sectors, however, poses a …

Persistent link: https://www.econbiz.de/10011125898