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The commitment role of equity financing
Fahn, Matthias; Merlo, Valeria; Wamser, Georg - 2014
theory are in line with a number of empirical results, which seem to stay in contrast to existing theories on capital …
Persistent link: https://www.econbiz.de/10010366170
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The commitment role of equity financing
Fahn, Matthias; Merlo, Valeria; Wamser, Georg - 2017
analysis provides an explanation for why some firms only use little debt financing. Predictions made by our theory are in line …
Persistent link: https://www.econbiz.de/10011714630
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The commitment role of equity financing
Fahn, Matthias; Wamser, Georg; Merlo, Valeria - 2017
analysis provides an explanation for why some firms only use little debt financing. Predictions made by our theory are in line …
Persistent link: https://www.econbiz.de/10011705222
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Technology adoption, external financing frictions, and the cross sectional returns
Lin, Xiaoji; Palazzo, Berardino - 2015
A dynamic model featuring a stochastic technology frontier shows significant impact of technology adoption for asset prices. In equilibrium, firms operating with old capital are riskier because costly technology adoption restricts their flexibilities in upgrading to the latest technology, making...
Persistent link: https://www.econbiz.de/10010531879
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Deep dynamics
Gottfries, Nils; Mickelsson, Glenn; Stadin, Karolina - 2021
How do firms adjust their output, inventories, employment and capital in response to demandsideshocks? To understand this, we estimate a reduced-form model using firm-level panel dataand we construct a theoretical model that can match the estimated impulse-response functions.A combination of...
Persistent link: https://www.econbiz.de/10012428917
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Banks, Credit Reallocation, and Creative Destruction
Keuschnigg, Christian; Kogler, Michael; Matt, Johannes - 2022
process thus fosters firm creation and improves aggregate productivity. It also complements policies that stimulate firm entry …
Persistent link: https://www.econbiz.de/10014238523
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Banks, credit reallocation, and creative destruction
Keuschnigg, Christian; Kogler, Michael; Matt, Johannes - 2022
process thus fosters firm creation and improves aggregate productivity. It also complements policies that stimulate firm entry …
Persistent link: https://www.econbiz.de/10013453926
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Capital reallocation and the cyclicality of aggregate productivity
Cooper, Russell W.; Schott, Immo - In: Quantitative economics : QE ; journal of the … 14 (2023) 4, pp. 1337-1365
Capital reallocation between firms is procyclical and leads to variations in measured aggregate productivity. In this … paper, we ask how much of the cyclical variation in measured productivity is the consequence of capital reallocation. We … build a heterogeneous-firm model to study the effects of exogenous shocks to total factor productivity (TFP) and to the …
Persistent link: https://www.econbiz.de/10014496527
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Capital-energy substitution and shifts in factor demand : a meta-analysis
Koetse, Mark J.; Groot, Henri L. F. de; Florax, Raymond … - 2006
This paper presents results of a meta-regression analysis on empirical estimates of capital-energy substitution. Theoretically it is clear that a distinction should be made between Morishima substitution elasticities and cross-price elasticities. The former represent purely technical...
Persistent link: https://www.econbiz.de/10011349193
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Modeling Extreme Instability
Annable, James - 2015
We construct a coherent theory of extreme macro instability, an important macro phenomenon most recently experienced in …
Persistent link: https://www.econbiz.de/10013014393