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The aggregate consequences of default risk : evidence from firm-level data
Besley, Timothy; Roland, Isabelle; Van Reenen, John - 2020
This paper studies the implications of perceived default risk for aggregate output and productivity. Using a model of … credit across firms with heterogeneous productivity. Further, we find that these losses accounted for over half of the … productivity fall between 2008 and 2009, and persisted for smaller (although not larger) firms. …
Persistent link: https://www.econbiz.de/10012241111
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Does finance bolster superstar companies? : banks, venture capital, and firm size in local U.S. markets
Popov, Alexander - 2009
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
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Imports and profitability in the euro area manufacturing sector : the role of emerging market economies
Peltonen, Tuomas A.; Skala, Martin; Rivera, Alvaro Santos; … - 2008
manufacturing sector, especially for imports coming from China and Russia. However, similar negative effects are also estimated for …
Persistent link: https://www.econbiz.de/10003782669
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Stylised features of price setting behaviour in Portugal
Dias, Mónica; Dias, Daniel; Neves, Pedro D. - 2004
This paper identifies the empirical stylized features of price setting behaviour in Portugal using the micro-datasets underlying the consumer and the producer price indexes. The main conclusions are the following: 1 in every 4 prices change each month; there is a considerable degree of...
Persistent link: https://www.econbiz.de/10009636702
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Price rigidity
Baudry, Laurent; Le Bihan, Hervé; Sevestre, Patrick; … - 2004
Based upon a large fraction of the price records used for computing the French CPI, we document consumer price rigidity in France. We first provide a methodological discussion of issues involved in estimating average price duration with micro-data. The average duration of prices in the sectors...
Persistent link: https://www.econbiz.de/10009639438
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Price setting in France
Loupias, Claire; Ricart, Roland - 2004
This paper reports the results of a survey conducted by the Banque de France during Winter 2003-2004 to investigate the price-setting behavior of French manufacturing companies. Prices are found to adjust infrequently; the median firm modifies its price only once a year. Price reviews are more...
Persistent link: https://www.econbiz.de/10009639484
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Changing prices ... changing times : evidence for Italy
Porqueddu, Mario; Fabiani, Silvia - Task Force on Low Inflation (LIFT) - 2017
This paper examines the process of adjustment of prices in Italy to determine whether nominal flexibility, measured by the frequency of price changes, has increased in the recent years of protracted stagnation and double-dip recession. The analysis is based on a large micro-level dataset of...
Persistent link: https://www.econbiz.de/10011636792
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Price setting before and during the pandemic : evidence from Swiss consumer prices
Rudolf, Barbara; Seiler, Pascal - 2022
We provide new evidence on price rigidity at the product level based on microdata underlying the Swiss consumer price index from 2008 to 2020. We find that the frequency of price changes has increased over the last decade, particularly among products where collection switched to online prices,...
Persistent link: https://www.econbiz.de/10013448700
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Firm heterogeneity, capital misallocation and optimal monetary policy
González, Beatriz; Nuño, Galo; Thaler, Dominik; … - 2024
This paper analyzes the link between monetary policy and capital misallocation in a New Keynesian model with heterogeneous firms and financial frictions. In the model, firms with a high return to capital increase their investment more strongly in response to a monetary policy expansion, thus...
Persistent link: https://www.econbiz.de/10014484281
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Costs, demand, and producer price changes
Loupias, Claire; Sevestre, Patrick - 2010
We estimate an ordered probit model in order to explain the occurrence and magnitude of producer price changes in the French manufacturing sector. We use data consisting essentially of the Banque de France monthly business surveys, pooled over the years 1998-2005. Our results show that changes...
Persistent link: https://www.econbiz.de/10003972966