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Why are Saving Rates so High in China?
Yang, Dennis Tao - 2011
In this paper, we define "The Chinese Saving Puzzle" as the persistently high national saving rate at 34-53 percent of gross domestic product (GDP) in the past three decades and a surge in the saving rate by 11 percentage points from 2000-2008. Using data from the Flow of Funds Accounts (FFA)...
Persistent link: https://www.econbiz.de/10013130270
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Transaction Cost Regulation
Spiller, Pablo T. - 2011
This paper discusses the fundamental underpinnings and some implications of transaction cost regulation (TCR), a framework to analyze the interaction between governments and investors fundamentally, but not exclusively, in utility industries. TCR sees regulation as the governance structure of...
Persistent link: https://www.econbiz.de/10013130971
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Theories of Heterogeneous Firms and Trade
Redding, Stephen J. - 2010
This paper reviews the recent theoretical literature on heterogeneous firms and trade, which emphasizes firm selection … this research and its relationship to traditional trade theories. We examine the implications of firm heterogeneity for … distribution. While a number of studies examine the endogenous response of firm productivity to trade liberalization, modeling …
Persistent link: https://www.econbiz.de/10013135411
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Cascades in Networks and Aggregate Volatility
Acemoglu, Daron - 2010
We provide a general framework for the study of cascade effects created by interconnections between sectors, firms or financial institutions. Focusing on a multi sector economy linked through a supply network, we show how structural properties of the supply network determine both whether...
Persistent link: https://www.econbiz.de/10013136361
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To Join or Not to Join? Factors Influencing Employee Share Plan Membership in a Multinational Corporation
Bryson, Alex - 2010
Many firms encourage employees to own company stock through share plans that subsidize the price at favorable rates, but even so many employees do not buy shares. Using a new survey of employees in a multinational with a share ownership plan, we find considerable variation in joining among...
Persistent link: https://www.econbiz.de/10013139127
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Are Consumers Affected by Durable Goods Makers' Financial Distress? The Case of Auto Manufacturers
Hortacsu, Ali - 2010
The financial decisions of durable goods makers can impose spillovers on their consumers. Namely, durable goods provide a consumption stream that frequently depends on services provided by the manufacturer (e.g., warranties, parts, and maintenance). Manufacturer bankruptcy, or even the...
Persistent link: https://www.econbiz.de/10013140995
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Heterogeneous Firms and Trade
Melitz, Marc J. - 2012
This paper reviews the new approach to international trade based on firm heterogeneity in differentiated product … industry and firm productivity …
Persistent link: https://www.econbiz.de/10013096126
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Capital and Labor Reallocation Inside Firms
Giroud, Xavier - 2012
We document how a plant-specific shock to investment opportunities at one plant of a firm ("treated plant") spills over … to other plants of the same firm--but only if the firm is financially constrained. While the shock triggers an increase … result of the resource reallocation, aggregate firm-wide productivity increases, suggesting that the reallocation is …
Persistent link: https://www.econbiz.de/10013096857
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Boarding a Sinking Ship? An Investigation of Job Applications to Distressed Firms
Brown, Jennifer - 2012
We use novel data from a leading online job search platform to examine the impact of corporate distress on firms' ability to attract job applicants. Survey responses suggest that job seekers accurately perceive firms' financial condition, as measured by companies' credit default swap prices and...
Persistent link: https://www.econbiz.de/10013103964
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The Political Risks of Fighting Market Failures : Subversion, Populism and the Government Sponsored Enterprises
Glaeser, Edward L. - 2012
There are many possible ways of reforming the Government-Sponsored Enterprises that insure mortgages against default, including a purely public option, complete privatization or a hybrid model with private firms and public catastrophic insurance. If the government is sufficiently capable and...
Persistent link: https://www.econbiz.de/10013106080