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This paper studies the economic benefits of home ownership. Exploiting a quasi-experiment surrounding privatization … of housing wealth are concentrated among the home owners who sell subsequent to privatization and among those who receive …
Persistent link: https://www.econbiz.de/10012455798
returns on those investments) has important implications for the saving, investment, and entry decisions of continuing and … potential entrepreneurs. These effects are similar in spirit to the role played by costly external financing on investment by … about entrepreneurial saving decisions and their role in household wealth accumulation. First, entrepreneurial households …
Persistent link: https://www.econbiz.de/10012470843
In Sub-Saharan Africa, 600 million people live without electricity. Despite ambitions of governments and donors to invest in rural electrification, decisions about how to extend electricity access are being made in the absence of rigorous evidence. Using a novel dataset of 20,000 geo-tagged...
Persistent link: https://www.econbiz.de/10012458340
We show that the stock market may fail to aggregate information even if it appears to be efficient, and that the resulting decrease in the information content of prices may drastically reduce welfare. We solve a macroeconomic model in which information about fundamentals is dispersed and...
Persistent link: https://www.econbiz.de/10012461631
how fluctuations in individual crypto wealth affect household consumption, equity investment, and local real estate … consumption and investment into other asset classes …
Persistent link: https://www.econbiz.de/10014322832
There is usually considerable uncertainty about the amount of investment that will accompany any level of protection …
Persistent link: https://www.econbiz.de/10012466413
We estimate the effects of privatization on zombie versus healthy state-owned enterprises (SOEs) in China, extending … privatization of underperforming, zombie-like entities can lead to substantial economic improvements and greater efficiency …
Persistent link: https://www.econbiz.de/10015056119
relaxing financial constraints. Our research design isolates idiosyncratic variation in household-level stock market returns …
Persistent link: https://www.econbiz.de/10014635606
We study the effects of monetary-policy-induced changes in Tobin's q on corporate investment and capital structure. We … evidence, and quantify the relevance for monetary transmission to aggregate investment …
Persistent link: https://www.econbiz.de/10013210051
This essay discusses the reasons for and implications of the decline in real interest rates around the world over the past several decades. It suggests that the decline in interest rates is largely explicable from trends in saving, growth, and markups. In this environment, greater government...
Persistent link: https://www.econbiz.de/10013210052