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relationship with affected banks borrow less and reduce employment mostly of high-skilled workers. High-skilled workers are more …
Persistent link: https://www.econbiz.de/10011997524
obstacles. In contrast, firms under collective wage bargaining arrangements seem to report these obstacles more often. However … evidence on the impacts of labour market reforms, which seem to have a potential to address impediments towards employment …
Persistent link: https://www.econbiz.de/10011856489
We study the relative effect of venture capital and bank finance on large manufacturing firms in local U.S. markets. Theory predicts that with venture capital, the firm size distribution should become more stretched-out to the right, but it’s ambiguous on the effect of banks on large firms....
Persistent link: https://www.econbiz.de/10003969261
This paper studies the macroeconomic consequences of the COVID-19 pandemic and makes a first step in adapting the central bank modelling apparatus to the new economic landscape. We augment the ECB-BASE model with the predictive dynamics of the SIR model in order to assess the interplay between...
Persistent link: https://www.econbiz.de/10012241217
How does contagion risk affect the business cycle? We find that the presence of contagion risk significantly alters the transmission of standard macroeconomic shocks. Relative to the first-best equilibrium, the contagion externality significantly reduces the response of output to a technology...
Persistent link: https://www.econbiz.de/10013329375
. Using matched employer-employee dataset, I adopted the estimation strategy proposed by Guiso et al. (2005) to evaluate wage … Portuguese datasets. I found that firms do insure workers against product market uncertainties, but the magnitude of the wage … response differs depending on the nature of the shock. Broadly speaking, the wage response to permanent shocks is twice as high …
Persistent link: https://www.econbiz.de/10003825822
We study the relative effect of venture capital and bank finance on large manufacturing firms in local U.S. markets. Theory predicts that with venture capital, the firm size distribution should become more stretched-out to the right, but it’s ambiguous on the effect of banks on large firms....
Persistent link: https://www.econbiz.de/10009640458
This paper focuses on the euro area wage structure and its potential determinants from a sectoral viewpoint. Merging … inter-industry wage structure that is similar across countries. We then apply panel data techniques to identify factors … explaining interindustry wage differentials in the euro area. Both workforce characteristics (e.g., human capital variables) and …
Persistent link: https://www.econbiz.de/10003832004
We examine the two-level nested Constant Elasticity of Substitution production function where both capital and labor are disaggregated in two classes. We propose a normalized system estimation method to retrieve estimates of the inter- and intra-class elasticities of substitution and...
Persistent link: https://www.econbiz.de/10009380898
The last few decades have been accompanied by disruptive changes to the structure of employment which have led to …
Persistent link: https://www.econbiz.de/10013285963