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We characterize the dispersion of firm-level productivity and demand shocks over the business cycle using Swedish microdata including prices and analyse the consequences for firms and the aggregate economy. Demand dispersion increases by more than productivity dispersion in recessions....
Persistent link: https://www.econbiz.de/10014540949
In Europe, accounting standards prevent larger expenditures on employer-sponsored training from being treated as investments. Using Sweden as example, we discuss two consequences for training. <p> First, the timing: training will be conducted when income is large enough for training costs to be...</p>
Persistent link: https://www.econbiz.de/10010321021
The dominant view of inflation holds that it is macroeconomic in origin and must always be tackled with macroeconomic tightening. In contrast, we argue that the US COVID-19 inflation is predominantly a sellers' inflation that derives from microeconomic origins, namely the ability of firms with...
Persistent link: https://www.econbiz.de/10014480428
Can an increasing importance of intangible capital explain increases in markups and profits? I use a heterogeneous firm … model to show how intangible capital, characterized by fixed costs and uncertainty, is related to markups and profits at the … intangible capital investment can charge high markups relative to other firms whereas firms that fail will exit. However, these …
Persistent link: https://www.econbiz.de/10012806707
SME investment opportunities depend on the level of financing constraints that firms face. Earlier research has mainly focused on the controversial argument that cash flow-investment correlations increase with the level of these constraints. We focus on bank loans rather than cash flow. Our...
Persistent link: https://www.econbiz.de/10010292178
Corporate social responsibility (CSR) is increasingly a core component of corporate strategy in the global economy. In recent years its importance has become even greater, primarily because of the financial scandals, investors’ losses, and reputational damage to listed companies. While...
Persistent link: https://www.econbiz.de/10010292298
We explore the impact of mentoring of females and gender segregation on wages using a large longitudinal data set for Portugal. Female managers can protect and mentor female employees by paying them higher wages than male-led firms would do. We find that females can enjoy higher wages in...
Persistent link: https://www.econbiz.de/10010294591
We study Austrian job reallocation in the period of 1978 to 1998, using a large administrative dataset where we correct for spurious entries and exits of firms. We find that on average 9 out of 100 randomly selected jobs were created within the last year, and that about 9 out of randomly...
Persistent link: https://www.econbiz.de/10010294595
We use data on Austrian firms and employees to estimate the effects of employer-provided training on productivity, wages, and the inequality of wages within firms. While the average amount spent on employer-provided training is low in general, we find a robust positive elasticity of training on...
Persistent link: https://www.econbiz.de/10010294844
We investigate the impact of self-organized reputation versus certification by an independent institution on demand for online shops. Using data from a large Austrian price comparison site, we show that quality seals issued by a credible and independent institution increase demand more than...
Persistent link: https://www.econbiz.de/10010294857