Narrow search
Showing 1 - 10 of 22,804
Cover Image
Financial Frictions Investment and Tobin's q
Lorenzoni, Guido; Walentin, Karl - 2007
We develop a model of investment with financial constraints and use it to investigate the relation between investment … between q and investment, relative to the frictionless benchmark. We present a calibrated version of the model, which, due to … this effect, generate realistic correlations between investment, q, and cash flow …
Persistent link: https://www.econbiz.de/10014050959
Cover Image
Financial Development and Economic Volatility : A Unified Explanation
Wang, Pengfei; Wen, Yi - 2009
heterogenous firms facing borrowing constraints and investment irreversibility, it is shown that financial liberalization increases … the lumpiness of firm-level investment but decreases the variance of aggregate output. Hence, the model predicts that …
Persistent link: https://www.econbiz.de/10014208300
Cover Image
Theory and Evidence on the Finance-Growth Relationship : The Virtuous and Unvirtuous Cycles
Lauretta, Eliana - 2016
Since the 1980s, financial crises have tended to reoccur with increasing frequency and growing intensity. They are endogenously generated by the established OTD (Originate-To-Distribute) model within the new finance-growth paradigm. Good finance fosters the correct allocation of financial...
Persistent link: https://www.econbiz.de/10012994996
Cover Image
Switching-track after the Great Recession
Vinci, Francesca; Licandro, Omar - 2021
We propose a theoretical framework to reconcile episodes of V-shaped and L-shaped recovery, en- compassing the behaviour of the U.S. economy before and after the Great Recession. In a DSGE model with endogenous growth, negative demand shocks destroy productive capacity, moving GDP to a lower...
Persistent link: https://www.econbiz.de/10012627907
Cover Image
Switching-track after the great recession
Vinci, Francesca; Licandro, Omar - 2021
We propose a theoretical framework to reconcile episodes of V-shaped and L-shaped recovery, encompassing the behaviour of the U.S. economy before and after the Great Recession. In a DSGE model with endogenous growth, negative demand shocks destroy productive capacity, moving GDP to a lower...
Persistent link: https://www.econbiz.de/10012533939
Cover Image
Are Technology Improvements Contractionary?
Basu, Susanto; Fernald, John G.; Kimball, Miles S. - 2015
Yes. We construct a measure of aggregate technology change, controlling for imperfect competition, varying utilization of capital and labor, and aggregation effects. On impact, when technology improves, input use falls sharply, and output may fall slightly. With a lag of several years, inputs...
Persistent link: https://www.econbiz.de/10014208898
Cover Image
Does financial development drive private investment in Ghana?
Sakyi, Daniel; Boachie, Micheal Kofi; Immurana, Mustapha - In: Economies : open access journal 4 (2016) 4, pp. 1-12
There is ample evidence from economic growth literature that investment accelerates economic growth and development of … focused more on encouraging private sector investment through the development of the financial sector. This paper investigates … the short- and long-run impact of financial development on private investment in Ghana for the years 1970 …
Persistent link: https://www.econbiz.de/10011610224
Cover Image
Financial development and investment dynamics in Mauritius : a trivariate Granger-causality analysis
Muyambiri, Brian; Odhiambo, Nicholas M. - In: Spoudai : journal of economics and business 68 (2018) 2/3, pp. 62-73
investment in Mauritius for the period from 1976 to 2014. The study assumes that investment and financial development have an … market-based financial development Granger-cause investment, both in the short run and in the long run. The study, therefore … development in order to spur investment. …
Persistent link: https://www.econbiz.de/10011922312
Cover Image
Aggregate uncertainty and sectoral productivity growth : the role of credit constraints
Choi, Sangyup; Furceri, Davide; Huang, Yi; Loungani, Prakash - 2017
uncertainty, firms that are credit constrained switch the composition of investment by reducing productivity-enhancing investment …
Persistent link: https://www.econbiz.de/10011634332
Cover Image
On the Cyclicality of R&D : Disaggregated Evidence
Ouyang, Min - 2007
This paper explores the link between short-run cycles and long-run growth by examining the cyclicality of Ramp;D. Existing theories propose that Ramp;D is concentrated when output is low, but aggregate data repeatedly show that Ramp;D appears procyclical. We estimate the relationship between...
Persistent link: https://www.econbiz.de/10012728847