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This paper proposes a theoretical framework to analyze the relationship between credit shocks, firm defaults and volatility, and to study the impact of credit shocks on business cycle dynamics. Firms are identical ex ante but differ ex post due to different realizations of firm-specific...
Persistent link: https://www.econbiz.de/10009751689
During the recent financial crisis in the U.S., banks reduced new business lending amidst concerns about borrowers' ability to repay. At the same time, firms facing higher borrowing costs alongside a worsening economic outlook reduced investment. To explain these aggregate business cycle...
Persistent link: https://www.econbiz.de/10009690835
Persistent link: https://www.econbiz.de/10013389052
This paper examines the evolution of a skew distribution of firm sizes from the viewpoint of the 'Bounds' approach to market structure. It confines attention to the role played by non-strategic factors (statistical independence, and cost side effects). A model is proposed, which leads to a...
Persistent link: https://www.econbiz.de/10010334911
Persistent link: https://www.econbiz.de/10010334987
A quality-adjusted specification of labor is suggested which allows firm training to affect labor efficiency. To assess the cost and productivity effects, this specification is integrated into a flexible neoclassical cost function. The empirical analysis uses panel data for eight plants in the...
Persistent link: https://www.econbiz.de/10010335155
dataset of over 4,000 enterprises and considers both the prior educational attainment of workers and in-service training … programs of enterprises. Differences between small, medium-sized, and large enterprises and between countries are also … productivity. The productivity of small and medium-sized enterprises (SMEs) is enhanced by a higher level of skills and education …
Persistent link: https://www.econbiz.de/10011653784
Zimbabwe has a wealth of natural resources and is rich in biodiversity. The national Government is trying to achieve private sector led economic growth and the challenge to pursue both economic development and sound environmental management at the same time appears clear. The objective of this...
Persistent link: https://www.econbiz.de/10013346850
The literature on the impact of trade on labour market outcomes has experienced a remarkable evolution in recent decades. Theory has moved on from oversimplified to more comprehensive models that take into account previously disregarded characteristics of firms and of product and labour markets,...
Persistent link: https://www.econbiz.de/10013346859
This Working Paper analyses the role of tripartite social dialogue in supporting green workplaces and, more generally, promoting just transitions at enterprise level. The Working Paper explores the different mechanisms whereby social dialogue has contributed to governing, promoting and...
Persistent link: https://www.econbiz.de/10013420945