We find that capital renting makes up one-fifth of US capital expenditures, and it increases during downturns. Further … or buy capital. The countercyclicality of rentals occurs because their supply increases, as renting serves as an …, we present cross-country evidence that output losses after financial crises are smaller where renting is more prevalent …

We find that capital renting makes up one fifth of US capital expenditures, and it increases during downturns. Further … or buy capital. The countercyclicality of rentals occurs because their supply increases, as renting serves as an …, we present cross-country evidence that output losses after financial crises are smaller where renting is more prevalent …

during and after the global financial crisis. The pre-crisis rise of intangible-to-tangible capital ratio was reversed … outside the U.S. due to a greater decline of intangible investment and a much slower recovery. Tangible capital can be …

, provided wages are sufficiently rigid. Critical to the model is the distinction between different types of capital with … different depreciation rates. Intangible capital and equipment have high depreciation rates, leading these stocks to drop …

The process of globalization encompasses economic and financial integration. The abolition of capital controls and the …