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On the Timing and Efficiency of Creative Destruction
Caballero, Ricardo J. - 2010
This paper analyzes the timing, pace and efficiency of the on- going job reallocation that results from product and … policies can restore economic efficiency …
Persistent link: https://www.econbiz.de/10013139984
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Property Taxation, Zoning, and Efficiency : A Dynamic Analysis
Coate, Stephen - 2011
This paper revisits the classic argument that a system of local governments financing public service provision via property taxes will produce an efficient allocation of both housing and services if communities can implement zoning ordinances. The novel feature of the analysis is a dynamic model...
Persistent link: https://www.econbiz.de/10013123687
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Inefficient Investment Waves
He, Zhiguo - 2012
We develop a dynamic model of trading and investment with limited aggregate resources to study investment cycles. Unverifiable idiosyncratic investment opportunities imply market prices to play a role of rent distribution, distorting private investment incentives from a social point of view....
Persistent link: https://www.econbiz.de/10013103789
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Exploring Tradeoffs in the Organization of Scientific Work : Collaboration and Scientific Reward
Bikard, Michaël - 2014
efficiency of collaboration and the credit allocation that arises after the completion of collaborative work. In this paper, we …
Persistent link: https://www.econbiz.de/10013064160
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The Redistributive Effects of Financial Deregulation
Korinek, Anton - 2013
Financial regulation is often framed as a question of economic efficiency. This paper, by contrast, puts the … levels of welfare for the two parties. A regulator has to trade off efficiency in the financial sector, which is aided by … deregulation, against efficiency in the real economy, which is aided by tighter regulation and a more stable supply of credit. We …
Persistent link: https://www.econbiz.de/10013073879
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Efficiently Inefficient Markets for Assets and Asset Management
Garleanu, Nicolae - 2015
costly, and managers charge an endogenous fee. The efficiency of asset prices is linked to the efficiency of the asset …
Persistent link: https://www.econbiz.de/10013015107
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Insolvency Resolution and the Missing High Yield Bond Markets
Becker, Bo - 2013
-standard-deviation increase in the efficiency of bankruptcy is associated with an increase in the stock of corporate bonds equal to 5% of firm …
Persistent link: https://www.econbiz.de/10013076562
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Efficient Recapitalization
Philippon, Thomas - 2009
We analyze government interventions to recapitalize a banking sector that restricts lending to firms because of debt overhang. We find that the efficient recapitalization program injects capital against preferred stock plus warrants and conditions implementation on sufficient bank participation....
Persistent link: https://www.econbiz.de/10013160157
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Health Care Financing, Efficiency, and Equity
Glied, Sherry - 2008
This paper examines the efficiency and equity implications of alternative health care system financing strategies …. Using data across the OECD, I find that almost all financing choices are compatible with efficiency in the delivery of …
Persistent link: https://www.econbiz.de/10012772354
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Severance Pay, Pensions, and Efficient Mobility
Lazear, Edward P. - 2008
This paper argues that pensions are used as severance pay devices in an efficient compensation scheme. The major points of the study are: (1) Severance pay, which takes the form of higher pension values for early retirement, is widespread. (2) A major reason for the existence of pensions is the...
Persistent link: https://www.econbiz.de/10012774608