Does emergency credit prevent long-term financial distress? We study the causal effects of government-provided recovery … bankruptcy, increase employment and revenue, unlock private credit, and reduce delinquency. These effects, especially the … crowding-in of private credit, appear to reflect resolving uncertainty about repair. We do not find capital reallocation away …

separate firm-borrowing shocks from bank-supply shocks using a vast sample of matched bank-firm lending data. We decompose …

The correlation between productivity and competition is an oft-observed but ill-understood result. Some suggest that … there is a treatment effect of competition on measured productivity, e.g. through a reduction of managerial slack. Others … argue that greater competition makes unproductive establishments exit by reallocating demand to their productive rivals …

This paper builds a model of stock exchange competition tailored to the institutional and regulatory details of the …

, quality competition came more in the form of costs that vary with hotel size, and less in the form of costs that are fixed …

expectations of future profits which, in turn, depend on the nature of competition within the market. In this paper we estimate a … by potential entrants, fixed costs faced by incumbent producers, and the toughness of short-run price competition are all …

show that sectors characterized by a higher degree of competition (more substitutable products and a lower concentration of …