Showing 1 - 10 of 49
Persistent link: https://www.econbiz.de/10011983206
Persistent link: https://www.econbiz.de/10013475433
How does growing international financial diversification affect firm-level and aggregate labor shares? We study this question using a novel framework of firm labor choice in the face of aggregate risk. The theory implies a cross-section of labor risk premia and labor shares that appear as...
Persistent link: https://www.econbiz.de/10014250185
Persistent link: https://www.econbiz.de/10012595375
This paper presents accounting decompositions of changes in aggregate labor and capital productivity. Our simplest decomposition breaks changes in an aggregate productivity ratio into two components: A mean component, which captures common changes to firm factor productivity ratios, and a...
Persistent link: https://www.econbiz.de/10011500404
Persistent link: https://www.econbiz.de/10012653058
Persistent link: https://www.econbiz.de/10014297092
Persistent link: https://www.econbiz.de/10013167224
Persistent link: https://www.econbiz.de/10013167226
Unfunded fiscal shocks are a significant source of risk premia in Treasury markets when central banks and governments decide to insulate taxpayers and expose bondholders' wealth to government funding needs. We illustrate this bond risk premium mechanism analytically in a two-agent model...
Persistent link: https://www.econbiz.de/10015409800