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How Prevalent Is Downward Rigidity in Nominal Wages? International Evidence from Payroll Records and Pay Slips

Elsby, Michael W. - 2018

For more than 80 years, many macroeconomic analyses have been premised on the assumption that workers' nominal wage rates cannot be cut. Contrary evidence from household surveys reasonably has been discounted on the ground that the measurement of frequent wage cuts might be an artifact of...

Persistent link: https://www.econbiz.de/10012481040

Daily Cross-Border Equity Flows : Pushed or Pulled?

Griffin, John M. - 2002

In a model that is consistent with the existence of a home bias and with foreign investors that are less informed than domestic investors, we show that unexpectedly high worldwide returns lead to net equity inflows into small countries. In addition, a small country experiences net equity inflows...

Persistent link: https://www.econbiz.de/10012469714

Can Microfinance Unlock a Poverty Trap for Some Entrepreneurs?

Banerjee, Abhijit - 2019

, India, we find that "gung ho entrepreneurs" (GEs), households who were already running a business before microfinance … model of technology choice in which talented entrepreneurs can access either a diminishing-returns technology, or a more … entrepreneurial ability is important and persistent. For talented but low-wealth entrepreneurs, short-term access to credit can indeed …

Persistent link: https://www.econbiz.de/10012480290

Khan, B. Zorina - 2017

Scholars engage in extensive debate about the role of families and corporations in economic growth. Some propose that personal ties provide a mechanism for overcoming such transactions costs as asymmetrical information, while others regard familial connections as conduits for inefficiency, with...

Persistent link: https://www.econbiz.de/10012455628

The State of American Entrepreneurship : New Estimates of the Quantity and Quality of Entrepreneurship for 15 US States, 1988-2014

Guzman, Jorge - 2016

While official measures of business dynamism have seen a long-term decline, early-stage venture financing of new companies has reached levels not observed since the late 1990s, resulting in a sharp debate about the state of American entrepreneurship. Building on Guzman and Stern (2015a; 2015b), this...

Persistent link: https://www.econbiz.de/10012456579

University Innovation and the Professor's Privilege

Hvide, Hans K. - 2016

National policies take varied approaches to encouraging university-based innovation. This paper studies a natural experiment: the end of the "professor's privilege" in Norway, where university researchers previously enjoyed full rights to their innovations. Upon the reform, Norway moved toward...

Persistent link: https://www.econbiz.de/10012456617

Demographics and Entrepreneurship

Liang, James - 2014

Entrepreneurship requires energy and creativity as well as business acumen. Some factors that contribute to entrepreneurship may decline with age, but business skills increase with experience in high level positions. Having too many older workers in society slows entrepreneurship. Older workers...

Persistent link: https://www.econbiz.de/10012458161

The Geography of Crowdfunding

Agrawal, Ajay K. - 2011

-stage projects. This contrasts with existing theories that predict entrepreneurs and investors will be co-located due to distance …-sensitive costs. We examine a crowdfunding setting that connects artist-entrepreneurs with investors over the internet for financing …

Persistent link: https://www.econbiz.de/10012461837

Personal Bankruptcy Law and Innovation around the World

Cumming, Douglas J.; Morck, Randall; Rong, Zhao; Zhang, … - National Bureau of Economic Research - 2024

Because corporate limited liability protects founder's personal assets, creditors often require founders of new, small and risky firms to contract around limited liability by pledging their personal assets as collateral for loans to their firms. This makes personal bankruptcy law (PBL) relevant...

Persistent link: https://www.econbiz.de/10015056150

Does "Grease Money" Speed Up the Wheels of Commerce?

Kaufmann, Daniel - 1999

In an environment in which bureaucratic burden and delay are exogenous, an individual firm may find bribes helpful to reduce the effective red tape it faces. The efficient grease' hypothesis asserts therefore that corruption can improve economic efficiency and that fighting bribery would be...

Persistent link: https://www.econbiz.de/10012471704