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Do Re-Election Probabilities Influence Public Investment?

Fiva, Jon H.; Natvik, Gisle James - 2009

We identify exogenous variation in incumbent policymakers' re-election probabilities and explore empirically how this variation affects the incumbents' investment in physical capital. Our results indicate that a higher re-election probability leads to higher investments, particularly in the...

Persistent link: https://www.econbiz.de/10012143718

Risk-taking, capital allocation and optimal monetary policy

David, Joel M.; Zeke, David - 2021

We study the role of firm heterogeneity in affecting business cycle dynamics and optimal stabilization policy. Firms differ in their degree of cyclicality, and hence, exposure to aggregate risk, leading to firm-specific risk premia that influence resource allocations. The heterogeneous firm...

Persistent link: https://www.econbiz.de/10012653034

Managerial Incentives and the Efficiency of Capital Structure in U.S. Commercial Banking

Hughes, Joseph P.; Lang, William W.; Moon, Choon-Geol; … - 2004

We extend the literature on the effects of managerial entrenchment to consider how safety-net subsidies and financial distress costs interact with managerial incentives to influence capital structure in U.S. commercial banking. Using cross-sectional data on publicly traded, highest-level U.S....

Persistent link: https://www.econbiz.de/10010263221

What explains the productivity decline in manufacturing in the nineties in India?

Ray, Saon - 2014

productivity growth (TFPG), technical change, and efficiency change for a panel of firms during the period 1991 to 2001 in 26 … efficiency change using a Tobit regression for each industry. The results reveal that TFPG declined for all the sectors during … the period. The most significant factor affecting efficiency change, technical change and productivity growth is RD …

Persistent link: https://www.econbiz.de/10011807695

Managerial incentives and the efficiency of capital structure

Hughes, Joseph P.; Lang, William W.; Moon, Choon-Geol; … - 2001

We extend the literature on the effects of managerial entrenchment on capital structure to consider how safety-net subsidies and financial distress costs interact with managerial incentives to influence capital structure in U.S. commercial banking. Using cross-sectional data on publicly traded,...

Persistent link: https://www.econbiz.de/10010318364

The Swedish Fiscal Framework – The Most Successful One in the EU?

Andersson, Fredrik N. G.; Jonung, Lars - 2019

This paper discusses the history and future of the Swedish fiscal framework. First, we claim that the fiscal framework has contributed to a sharp decline in the debt-to-GDP ratio, from one of the highest to one of the lowest in the European Union. Next, we focus on the future. Despite its...

Persistent link: https://www.econbiz.de/10013208847

Fiscal policy, unemployment insurance, and financial crises in a model of growth and distribution

Hannsgen, Greg - 2012

Recently, some have wondered whether a fiscal stimulus plan could reduce the government's budget deficit. Many also worry that fiscal austerity plans will only bring higher deficits. Issues of this kind involve endogenous changes in tax revenues that occur when output, real wages, and other...

Persistent link: https://www.econbiz.de/10010318628

ECB worries/European woes: The economic consequences of parochial policy

Barbera, Robert J.; Holtham, Gerald - 2012

Financial market crises with the threat of a subsequent debt-deflation depression have occurred with increasing regularity in the United States from 1980 through the present. Almost reflexively, when confronted with such circumstances, US institutions and the policymakers that run them have...

Persistent link: https://www.econbiz.de/10010318632

Unconventional monetary policies and central bank profits: Seigniorage as fiscal revenue in the aftermath of the global financial crisis

Bibow, Jörg - 2018

This study investigates the evolution of central bank profits as fiscal revenue (or: seigniorage) before and in the aftermath of the global financial crisis of 2008-9, focusing on a select group of central banks - namely the Bank of England, the United States Federal Reserve System, the Bank of...

Persistent link: https://www.econbiz.de/10012142963

How much should we trust Regression-Kink-Design estimates?

Ando, Michihito - 2013

In a Regression Kink (RK) design with a finite sample, a confounding smooth nonlinear relationship between an assignment variable and an outcome variable around a threshold can be spuriously picked up as a kink and result in a biased estimate. In order to investigate how well RK designs handle...

Persistent link: https://www.econbiz.de/10011396720

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