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Credit Lines as Monitored Liquidity Insurance : Theory and Evidence

Acharya, Viral V. - 2013

We propose and test a theory of corporate liquidity management in which credit lines provided by banks to firms are a form of monitored liquidity insurance. Bank monitoring and resulting credit line revocations help control illiquidity-seeking behavior by firms. Firms with high liquidity risk...

Persistent link: https://www.econbiz.de/10013085123

Relationship and Transaction Lending in a Crisis

Bolton, Patrick - 2013

We study how relationship lending and transaction lending vary over the business cycle. We develop a model in which relationship banks gather information on their borrowers, which allows them to provide loans for profitable firms during a crisis. Due to the services they provide, operating costs...

Persistent link: https://www.econbiz.de/10013075424

Relationship Lending and the Great Depression

Cohen, Jon S. - 2016

The collapse of long-term lending relationships amplified the Great Depression. We demonstrate this by developing a new measure of lending relationships that can be calculated from widely available data at any level of aggregation. Our approach exploits differences in the responsiveness of loan...

Persistent link: https://www.econbiz.de/10012978091

The Effects of Competition in Consumer Credit Market

Gissler, Stefan - 2019

This paper finds that banks and non-banks respond differently to increased competition in consumer credit markets. Increased competition and the greater threat of failure induces banks to specialize more in relationship business lending, and surviving banks are more profitable. However,...

Persistent link: https://www.econbiz.de/10012864142

Innovation and Foreign Ownership

Guadalupe, Maria - 2010

product and process innovation (simultaneously adopting new machines and organizational practices) and adopt foreign … technologies, leading to higher productivity. We propose a model of endogenous selection and innovation in heterogeneous firms that … jointly explains the observed selection process and the innovation decisions. Further, we show in the data that innovation on …

Persistent link: https://www.econbiz.de/10013135408

Innovation by Entrants and Incumbents

Acemoglu, Daron - 2010

We extend the basic Schumpeterian endogenous growth model by allowing incumbents to undertake innovations to improve their products, while entrants engage in more "radical" innovations to replace incumbents. Our model provides a tractable framework for the analysis of growth driven by both entry...

Persistent link: https://www.econbiz.de/10013137600

Innovation and Welfare : Results from Joint Estimation of Production and Demand Functions

Jaumandreu, Jordi - 2010

that the total current period (static) welfare gains of introducing a process or a product innovation are, on average …

Persistent link: https://www.econbiz.de/10013139891

On the Timing and Efficiency of Creative Destruction

Caballero, Ricardo J. - 2010

process innovation. There are strong reasons why an efficient economy ought to concentrate both job creation and destruction …

Persistent link: https://www.econbiz.de/10013139984

Long-Term Barriers to the International Diffusion of Innovations

Spolaore, Enrico - 2012

We document an empirical relationship between the cross-country adoption of technologies and the degree of long-term historical relatedness between human populations. Historical relatedness is measured using genetic distance, a measure of the time since two populations' last common ancestors. We...

Persistent link: https://www.econbiz.de/10013114316

Innovation and Diffusion of Clean/Green Technology : Can Patent Commons Help?

Hall, Bronwyn H. - 2012

investigate the motives of the contributing firms as well as the potential for such commons to encourage innovation and diffusion … knowledge management that combine open innovation and patenting …

Persistent link: https://www.econbiz.de/10013114981

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