Similar Search Results

Misallocation and Credit Market Constraints : The Role of Long-Term Financing

Karabarbounis, Marios - 2020

We measure aggregate productivity loss due to credit market constraints in a model with endogenous borrowing constraints, long-duration bonds, and costly equity payouts. Due to long-duration bonds, the model generates a realistic distribution of credit spreads. We structurally estimate our model...

Persistent link: https://www.econbiz.de/10012850336

The Empirical Dynamics of Misallocation

Franco, Guido - 2018

Factor misallocation has been emphasized as one of the main sources of differences in aggregate TFP. This paper investigates the empirical dynamics of both capital and labor misallocation. Exploiting a balanced firm-level panel dataset covering manufacturing and services industries in several...

Persistent link: https://www.econbiz.de/10012909565

Capital Misallocation and Financial Market Frictions : Empirical Evidence from Equity Cost of Capital

Shen, Junyan - 2022

This paper quantifies the impact of capital misallocation on the loss in total factor productivity (TFP), arising from financial frictions. A two-period model is built to map the dispersion in the cross-sectional borrowing costs into the TFP loss. Equity cost of capital, which closely relates to...

Persistent link: https://www.econbiz.de/10014236591

Capital Misallocation and Aggregate Factor Productivity

Azariadis, Costas - 2012

We propose a sectoral–shift theory of aggregate factor productivity for a class of economies with AK technologies …

Persistent link: https://www.econbiz.de/10013098934

Housing Collateral Reform and Economic Reallocation

Fazio, Dimas - 2020

This paper examines how banks reallocate credit after the introduction of a more enforceable housing collateral contract in Brazil. This new contract greatly improved the repossession of real estate assets used as collateral for personal and business loans. We find opposing effects of this...

Persistent link: https://www.econbiz.de/10012829380

Accounting Standards, Cost of Capital, Resource Allocation, and Welfare in a Large Economy

Zhang, Guochang - 2012

causes both an expansion of the real economy and a shift in capital allocation across firms. While welfare increases as a …

Persistent link: https://www.econbiz.de/10013096757

Resource Allocation Decisions in the Public Sector : A Model Based on a Study of Policing

Zhuang, Zoe Yan - 2010

This paper identifies four approaches to resource allocation decisions in public services from the literature: a … actually make resource allocation decisions and which of the approaches (or combinations of approaches) were used … techniques and self-organising maps to identify how resource allocation decisions are made where resources are limited but demand …

Persistent link: https://www.econbiz.de/10013142154

Determinants and Consequences of Budget Reallocations

Grabner, Isabella; Moers, Frank - 2021

We investigate the determinants and consequences of budget reallocations—that is, corrective changes to the budget made during the year. Using proprietary data from a large consumer goods manufacturer, we analyze the extent to which initial budgeting decisions drive reallocations. Examining...

Persistent link: https://www.econbiz.de/10013232706

The Allocational Effects of the Precision of Accounting Estimates

Dye, Ronald A.; Sridharan, Swaminathan - 2008

Finally, we show that, in a setting where the firm's initial owner sells his stake in the firm over the course of two periods, with disclosures of estimates of the firm's value occurring prior to each sale of shares, if the precisions of the estimates are public, the equilibrium precisions of...

Persistent link: https://www.econbiz.de/10014221954

Nonprofit Resource Allocation Decisions : A Study of Marginal versus Average Spending

Kitching, Karen A. - 2012

organizations that do not fundraise make resource allocation decisions that decrease the program ratio when budgets increase. These … budgets decrease, charity managers make resource allocation decisions that decrease the program ratio. This asymmetry suggests …

Persistent link: https://www.econbiz.de/10013115489