This study develops a macroeconomic model with two distinct agent types: rentiers and entrepreneurs, where only the latter invest in capital. We explore how this heterogeneity affects macroeconomic stability and policy feasibility.The model features a short-run static setup with heterogeneity...

This study investigates whether, and to what extent, dividend-paying firms follow pecking order behavior when altering their capital structure. Using a panel of 3173 U.S. firms from 1960 to 2020 (49,424 firm-year observations), we examine four financing activities: equity and debt issuance under...

This study provides a comprehensive analysis of debt financial and non-financial products offered by financial institutions in the European Union and targeting women entrepreneurs. It explores best practices and highlights key challenges. In addition, the study makes strategic recommendations...

This paper assesses the debt financing gap for SMEs, which undermines their competitiveness and leads to sub-optimal investments. The analysis is done by exploring financial market failures in the EU in terms of providing credit to financially viable borrowers. We use SME survey data to gauge...