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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

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

The Impact of Plant-Level Resource Reallocations and Technical Progress on U.S. Macroeconomic Growth

Petrin, Amil - 2011

reallocations and plant-level technical efficiency changes while allowing in the estimation for 459 different production … than aggregate technical efficiency. Our estimates of the contribution of reallocation range from 1.7% to 2.1% per year …, while our estimates of the average contribution of aggregate technical efficiency growth range from 0.2% to 0.6% per year …

Persistent link: https://www.econbiz.de/10013131308

Financial Constraints and Innovation : Why Poor Countries Don't Catch Up

Gorodnichenko, Yuriy - 2014

This paper examines micro-level channels of how financial development can affect macroeconomic outcomes like the level of income and export intensity. We investigate theoretically and empirically how financial constraints affect a firm's innovation and export activities, using unique firm survey...

Persistent link: https://www.econbiz.de/10013070230

Reconciling Models of Diffusion and Innovation : A Theory of the Productivity Distribution and Technology Frontier

Benhabib, Jess - 2017

We study how innovation and technology diffusion interact to endogenously determine the shape of the productivity distribution and generate aggregate growth. We model firms that choose to innovate, adopt technology, or produce with their existing technology. Costly adoption creates a spread...

Persistent link: https://www.econbiz.de/10012964404

Identification and Efficiency Bounds for the Average Match Function Under Conditionally Exogenous Matching

Graham, Bryan S. - 2018

under specific informational assumptions, and (iii) we calculate the AMF's semiparametric efficiency bound …

Persistent link: https://www.econbiz.de/10012936351

Algorithms and the Changing Frontier

Agwara, Hezekiah - 2014

We first summarize the dominant interpretations of the "frontier" in the United States and predecessor colonies over the past 400 years: agricultural (1610s-1880s), industrial (1890s-1930s), scientific (1940s- 1980s), and algorithmic (1990s-present). We describe the difference between the...

Persistent link: https://www.econbiz.de/10013055503

Level Versus Variability Trade-Offs in Wind and Solar Generation Investments : The Case of California

Wolak, Frank - 2016

Hourly plant-level wind and solar generation output and real-time price data for one year from the California ISO control area is used to estimate the vector of means and the contemporaneous covariance matrix of hourly output and revenues across all wind and solar locations in the state. Annual...

Persistent link: https://www.econbiz.de/10012985578

Vertical Integration and Distance to Frontier

Acemoglu, Daron; Aghion, Philippe; Zilibotti, Fabrizio - 2021

We construct a model where the equilibrium organization of firms changes as an economy approaches the world technology frontier. In vertically integrated firms, owners (managers) have to spend time both on production and innovation activities, and this creates managerial overload, and...

Persistent link: https://www.econbiz.de/10013247392

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