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The Decline of Big-Bank Lending to Small Business : Dynamic Impacts on Local Credit and Labor Markets
Chen, Brian S. - 2018
Small business lending by the four largest banks fell sharply relative to others in 2008 and remained depressed through 2014. We explore the dynamic adjustment process following this credit supply shock. In counties where the largest banks had a high market share, the aggregate flow of small...
Persistent link: https://www.econbiz.de/10012932738
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On the Size Distribution of Employment and Establishments
Leonard, Jonathan S. - 2022
Recent arguments that employment growth occurs disproportionately at small establishments are fundamentally misleading because they confuse regression to the mean with structural shifts in the size distribution of establishments and with an aging effect within cohorts. The net growth usually...
Persistent link: https://www.econbiz.de/10013322916
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Small Business and Job Creation : Dissecting the Myth and Reassessing Thefacts
Davis, Steven J.; Haltiwanger, John; Schuh, Scott D. - 2022
This paper investigates how job creation and destruction behavior varies by employer size in the U.S. manufacturing sector during the period 1972 to 1988. The paper also evaluates the empirical basis for conventional claims about the job-creating prowess of small businesses. The chief findings...
Persistent link: https://www.econbiz.de/10013324468
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Relative Returns on Equities in Pacific Basin Countries
Engel, Charles M. - 2010
We examine the factors that determine the differences in ex ante returns on equities in eleven Pacific Basin countries. Our concern is whether real return differentials are primarily caused by nominal return differentials or expected changes in real exchange rates. We find that nominal return...
Persistent link: https://www.econbiz.de/10012763463
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Lending to the Unbanked : Relational Contracting with Loan Sharks
Lang, Kevin - 2019
We study roughly 11,000 loans from unlicensed moneylenders to over 1,000 borrowers in Singapore and provide basic …
Persistent link: https://www.econbiz.de/10012860446
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No-Bubble Condition : Model-Free Tests in Housing Markets
Giglio, Stefano - 2014
classic rational bubble. We study housing markets in the U.K. and Singapore, where residential property ownership takes the … no evidence for failures of the transversality condition in housing markets in the U.K. and Singapore, even during …
Persistent link: https://www.econbiz.de/10013053476
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Very Long-Run Discount Rates
Giglio, Stefano - 2014
very long run, 100 or more years away. We exploit a unique feature of housing markets in the U.K. and Singapore, where …
Persistent link: https://www.econbiz.de/10013053841
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Liquidity in Retirement Savings Systems : An International Comparison
Beshears, John - 2015
What is the socially optimal level of liquidity in a retirement savings system? Liquid retirement savings are desirable because liquidity enables agents to flexibly respond to pre-retirement events that raise the marginal utility of consumption. On the other hand, pre-retirement liquidity is...
Persistent link: https://www.econbiz.de/10013022597
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Capital Flows and Exchange Rate Volatility : Singapore'S Experience
Kapur, Basant K. - 2021
Singapore%u2019s experience with international capital flows over the past two decades or so has been a rather %u2013 … system and equities market, and operating on a Currency Board (CB) system (although with some differences from Singapore … time. We next discuss Singapore%u2019s policy background and early experience, and in the light of Hong Kong%u2019s …
Persistent link: https://www.econbiz.de/10013218342
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The Tyranny of Numbers : Confronting the Statistical Realities of the East Asian Growth Experience
Young, Alwyn - 2021
of Hong Kong, Singapore, South Korea and Taiwan. Participation rates, educational levels and (with the exception of Hong …
Persistent link: https://www.econbiz.de/10013233017