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Philippon, Thomas - 2009

aggregate credit risk exceed the cost of implicit transfers to bank debt holders … overhang. We find that the efficient recapitalization program injects capital against preferred stock plus warrants and … conditions implementation on sufficient bank participation. Preferred stock plus warrants reduces opportunistic participation by …

Persistent link: https://www.econbiz.de/10013160157

Individuals and Organizations as Sources of State Effectiveness

Best, Michael - 2017

How important are bureaucrats for the productivity of the state? And to what extent do the tradeoffs between different policies depend on the implementing bureaucrats' effectiveness? Using data on 16million public procurement purchases in Russia during 2011–2016, we show that over 40 percent...

Persistent link: https://www.econbiz.de/10012957383

Fuzzy Frontiers of Production : Evidence of Persistent Inefficiency in Safety Expenditures

Ichniowski, Casey - 2021

This study documents a strong inverse relationship between accident rates and production in a sample of eleven firms in the same narrowly defined industry classification. Given the detailed set of input controls and controls for plant-specific and time-specific factors used in the analysis, the...

Persistent link: https://www.econbiz.de/10013236836

Dynamic Efficiency, the Riskless Rate, and Debt Ponzi Games Under Uncertainty

Blanchard, Olivier J. - 2009

Can governments roll their debt over forever in dynamically efficient economies, and thus avoid the need to raise taxes? While the answer is a clear no under certainty, it depends, under uncertainty, on whether public debt provides intergenerational insurance. When it does not, rollover is not...

Persistent link: https://www.econbiz.de/10012767839

Efficient Unemployment Insurance

Acemoglu, Daron; Shimer, Robert - 2021

This paper constructs a tractable general equilibrium model of search with risk-aversion. An increase in risk … hazard: insured workers seek high wage jobs with high unemployment risk. An economy with risk-neutral workers achieves … maximal output without any UI. In contrast, in an economy with risk-averse workers, a positive level of UI maximizes output …

Persistent link: https://www.econbiz.de/10013234055

Policies to Promote Growth and Economic Efficiency in Mexico

Arias, Javier - 2010

This paper discusses the problems facing the Mexican economy. It operates under a heavy burden of monopoly and regulation. We focus on two issues that should receive more attention in discussions of Mexican policy. (1) The family is under stress in Mexico and this retards the growth of skills of...

Persistent link: https://www.econbiz.de/10013135761

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

Getting Beneath the Veil of Effective Schools : Evidence from New York City

Dobbie, Will - 2011

Charter schools were developed, in part, to serve as an R&D engine for traditional public schools, resulting in a wide variety of school strategies and outcomes. In this paper, we collect unparalleled data on the inner-workings of 35 charter schools and correlate these data with credible...

Persistent link: https://www.econbiz.de/10013117889

Deregulation, Consolidation, and Efficiency : Evidence from U.S. Nuclear Power

Davis, Lucas W. - 2011

percent increase in operating efficiency, achieved primarily by reducing the frequency and duration of reactor outages. At … average wholesale prices the value of this increased efficiency is approximately $2.5 billion annually and implies an annual …

Persistent link: https://www.econbiz.de/10013121046

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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