Search Results - subject:": Financial constraints"

Financial constraints, migration and inequality

Assunção, Juliano J.; Carvalho, Leandro S. - 2005

Although the self-selection of emigrants is determined by differences in the returns to education, according to the celebrated Roy model, empirical evidence suggests that migrants tend to be favorably selected. This paper argues that financial con- straints might be useful to explain this...

Persistent link: https://www.econbiz.de/10011807324

Panel smooth transition regression models

González, Andrés; Teräsvirta, Timo; Dijk, Dick van - 2005

We develop a non-dynamic panel smooth transition regression model with fixed individual effects. The model is useful for describing heterogenous panels, with regression coefficients that vary across individuals and over time. Heterogeneity is allowed for by assuming that these coefficients are...

Persistent link: https://www.econbiz.de/10010281432

Cash breeds Success: The Role of Financing Constraints in Patent Races

Schroth, Enrique; Szalay, Dezsö - Départment d'économétrie et d'économie politique … - 2005

This paper studies the impact of cash constraints on equilibrium winning probabilities in a patent race between an incumbent and an entrant. We develop a model where cash-constrained firms finance their R&D expenditures with an investor who cannot verify their effort. In equilibrium, the...

Persistent link: https://www.econbiz.de/10005518822

Systemic Crises and Growth

Ranciere, Romain; Tornell, Aaron; Westermann, Frank - CESifo - 2005

weak institutions lead to severe financial constraints and low growth. Financial liberalization policies that facilitate …

Persistent link: https://www.econbiz.de/10005405758

Financial constraints and capacity adjustment in the United Kingdom: Evidence from a large panel of survey data

von Kalckreuth, Ulf; Murphy, Emma - Deutsche Bundesbank - 2005

The interrelationship between financial constraints and firm activity is a hotly debated issue. The way firms cope with … financial constraints is fundamental to the analysis of monetary transmission, of financial stability and of growth and … development. The CBI Industrial Trends Survey contains detailed information on the financial constraints faced by a large sample …

Persistent link: https://www.econbiz.de/10005083137

Relationship Banking and SMEs: A Theoretical Analysis

Baas, Timo; Schrooten, Mechthild - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2005

Reliable information on small and medium sized enterprises (SMEs) is rare and costly for financial intermediaries. To compensate for this, relationship banking is often considered as the appropriate lending technique in the case of SMEs. In this paper we offer a theoretical model to analyze the...

Persistent link: https://www.econbiz.de/10005068707

Entrepreneurship, Windfall Gains and Financial Constraints: The Case of Germany

Schäfer, Dorothea; Talavera, Oleksandr - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2005

In this paper we investigate the link between entrepreneurship and financial constraints. We develop a dynamic partial … financial constraints are eased. We test this hypothesis using German Socio-Economic Panel data covering the periods 2000 - 2002 … and measure release from financial constraints by windfall gains. The estimates confirm that the individual has higher …

Persistent link: https://www.econbiz.de/10005068829

Sorting, Selection, and Transformation of Return to College Education in China

Fleisher, Belton M; Li, Haizheng; Li, Shi; Wang, Xiaojun - Department of Economics, University of Hawaii-Manoa - 2005

influence of private financial constraints on decisions to attend college as tuition costs have risen and the relative …

Persistent link: https://www.econbiz.de/10005572297

Trade Credit, Collateral Liquidation and Borrowing Constraints

Fabbri, Daniela; Menichini, Anna Maria Cristina - Centro Studi di Economia e Finanza (CSEF) - 2005

The paper proposes a model of collateralized bank and trade credit. Firms use a two-input technology. Assuming that the supplier is better able to extract value from existing assets and has an information advantage over other creditors, the paper derives a series of predictions. (1) Financially...

Persistent link: https://www.econbiz.de/10005626736

Financial constraints, migration and inequality

Assunção, Juliano Junqueira; Carvalho, Leandro S. - Departamento de Economia, Pontifícia Universidade … - 2005

Although the self-selection of emigrants is determined by di¤erences in the returns to education, according to the celebrated Roy model, empirical evidence suggests that migrants tend to be favorably selected. This paper argues that financial con- straints might be useful to explain this...

Persistent link: https://www.econbiz.de/10005744581