This paper advocates for incorporating timely measures of firms' current situation and future expectations when disentangling real effects of credit supply from demand-side factors. Identification of supply-side effects in firm-level analyses often relies on balance sheet variables to control...

Methods for estimating equivalence scales usually rely on rather strong identifying assumptions. This paper considers a partially identified estimator for equivalence scales derived from the potential outcomes framework and using nonparametric methods for estimation, which requires only mild...

This dissertation comprises three distinct economic stduies. The first deals with the origin of business cycle fluctuations and the other two with the measurement of financial constraints and the identification of the respective treatment effect.

The Great Recession has brought along a rearrangement of living patterns both in the U.S. and in Europe. This study seeks to identify the consequences of the “doubling up” of two or more generations of adults into the same household. In particular, a difference-in-difference (DID) propensity...

Labor market frictions are seen in many extensions of the classical human capital theory as a prerequisite for firms financing general training. The labor market reforms in Germany at the beginning of the millennium have therefore been seen by many as a danger to the firms’ willingness to...

The policy of investment incentives is applied in majority of countries all over the world. This popularity is in contradiction with rare academic analyses. This paper sheds some light on causal impact of such policy on investment of supported firms in Czech Republic. We use individual level...