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Political Connections and Allocative Distortions

Schoenherr, David - 2018

Exploiting a unique institutional setting in Korea, this paper documents how politicians can increase the amount of government resources allocated through their social networks to the benefit of private firms connected to these networks. After winning the election, the new president appoints...

Persistent link: https://www.econbiz.de/10012937838

Capital Misallocation and Financial Development : A Sector-Level Analysis

Marconi, Daniela - 2017

This study investigates how financial development affects capital allocation across industries in a panel of countries …

Persistent link: https://www.econbiz.de/10012943765

Capital Misallocation and Financial Development : A Sector-Level Analysis

Marconi, Daniela - 2017

This study investigates how financial development affects capital allocation across industries in a panel of countries …

Persistent link: https://www.econbiz.de/10012944025

Measuring Trends and Persistence in Capital and Labor Misallocation

Bun, Maurice J. G. - 2019

of misallocation. Compared to a counterfactual efficient allocation we find that misallocation has had a sizable negative …

Persistent link: https://www.econbiz.de/10012868455

Efficient Allocation and Pricing of Multi-Featured Items

Candogan, Ozan - 2017

We introduce feature valuations, a new class of valuations that compactly capture preferences of agents who value items based on the features they possess. Such preferences are relevant in many important practical settings, such as Internet advertising markets (where impressions have associated...

Persistent link: https://www.econbiz.de/10012972469

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

Misallocation, Informality, and Human Capital : Understanding the Role of Institutions

D'Erasmo, Pablo - 2014

The aim of this paper is to quantify the role of formal-sector institutions in shaping the demand for human capital and the level of informality. We propose a firm dynamics model where firms face capital market imperfections and costs of operating in the formal sector. Formal firms have a larger...

Persistent link: https://www.econbiz.de/10013056102

Optimal Allocation of Policy Deductibles for Exchangeable Risks

Fathi Manesh, Sirous - 2015

, . . . , 0) is an optimal allocation that maximizes the expected utility of the policyholder's wealth. It is proven that the same …

Persistent link: https://www.econbiz.de/10013018885

Efficient Metropolitan Resource Allocation

Arnott, Richard J. - 2016

Persistent link: https://www.econbiz.de/10012986997

Do Firms Really Allocate Capital So Inefficiently?

Vieregger, Carl - 2014

The capital allocation process is a fundamental, organizational capability that drives value creation. The bulk of … extant empirical research, as well as evidence from prominent field studies, concludes that the capital allocation process is … a significant capability weakness: managers appear to make consistently inefficient capital allocation decisions. This …

Persistent link: https://www.econbiz.de/10013047590