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Managerial know-how shapes the productivity of firms by defining the set of available technologies, production choices, and market opportunities. This know-how can be reallocated across countries as managers acquire control of factors of production abroad. In this paper, we construct a...
Persistent link: https://www.econbiz.de/10012465581
matching environment. Among other results, we show how risk and search cost are associated with the propensity to start small …
Persistent link: https://www.econbiz.de/10012471748
With the rapid increase in LDC indebtedness in the recent decade, the issues of creditworthiness and country risk have … presence of default risk. The theoretical model suggests the possibility of a prisoners' dilemma in the loan market, in which a …
Persistent link: https://www.econbiz.de/10012478250
continue to hold even if the coefficient of relative risk aversion approaches zero (that is, even if the marginal utility of … income is constant so that agents are risk neutral in the conventional sense) …
Persistent link: https://www.econbiz.de/10012473481
-averse entrepreneurs discount using a 'hurdle rate' that exceeds the risk-free interest rate. The gap between the two rates increases with …
Persistent link: https://www.econbiz.de/10012473852
This paper explores links between policy uncertainty and growth. It provides evidence on the correlation between policy uncertainty and per capita real GDP for 46 developing countries over the 1970-85 period. Cross-section regressions on growth suggest that after accounting for standard...
Persistent link: https://www.econbiz.de/10012475145
. Furthermore, strong migration effects are shown to significantly improve the likely equity consequences of voucher programs …
Persistent link: https://www.econbiz.de/10012471551
Local policies can have substantial spillovers both across geographies and markets. Little is known about the impact of public health regulations across administrative borders. We estimate U.S. county level direct and spillover effects of Stay-at-Home-Orders (SHOs) aimed at containing the spread...
Persistent link: https://www.econbiz.de/10012599378
Do urban children live more segregated lives than urban adults? Using cellphone location data and following the 'experienced isolation' methodology of Athey et al. (2021), we compare the isolation of students over the age of 16--who we identify based on their time spent at a high school--and...
Persistent link: https://www.econbiz.de/10012814420
mobility - the human capital model and the migration model - across traditional and emerging destinations. Our findings suggest … that while the predictions of the migration model are generally valid in explaining student emigration to non …
Persistent link: https://www.econbiz.de/10012479871