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Can government demand stimulate private investment? Evidence from U.S. federal procurement

Hebous, Shafik; Zimmermann, Tom - 2019

We study the effects of federal purchases on firm investment using a novel panel dataset that combines federal … firms’ capital investment by 10 to 13 cents. In line with the financial accelerator model, our findings indicate that the …-level analysis suggests that that the increase in investment at the firm level translates into an industry-wide effect without …

Persistent link: https://www.econbiz.de/10012018225

Financial Constraints and Propagation of Shocks in Production Networks

Demir Pakel, Banu; Javorcik, Beata Smarzynska; … - 2020

This study finds that even small unexpected supply shocks propagate downstream through production networks and are amplified by firms with short-term financial constraints. The unexpected 2011 increase in the tax on imports purchased with foreign-sourced trade credit is examined using data...

Persistent link: https://www.econbiz.de/10012314894

Euro area SMEs under financial constraints: Belief or reality?

Artola, Concha; Genre, Veronique - 2011

During the recent financial crisis, euro area firms, and especially Small and Medium-sized Enterprises, have been reporting acute problems of access to external finance. Using firm-level replies to the SME survey on access to finance, we use two indicators of financing constraints based on...

Persistent link: https://www.econbiz.de/10010279375

Unilateral Tax Reform : Border Adjusted Taxes, Cash Flow Taxes, and Transfer Pricing

Bond, Eric W. - 2019

We study the economic effects of unilateral adoption of corporate tax policies that include destination-based taxes and/or cash ow taxes in a heterogeneous agent model in which multinational firms can endogenously shift income between countries using transfer prices. Standard pass through...

Persistent link: https://www.econbiz.de/10012892263

Can Destination-Based Cash Flow Taxes Arise in Equilibrium?

Gresik, Thomas A.; Bond, Eric W. - 2021

We examine the effects of unilateral changes in a country’s tax parameters in a two country model when both countries are part of a destination-based cash flow taxation (DBCFT) system. We consider deviations from a globally efficient DBCFT equilibrium by allowing each country to vary its...

Persistent link: https://www.econbiz.de/10013250046

Stock Market's Assessment of Monetary Policy Transmission : The Cash Flow Effect

Gürkaynak, Refet S. - 2019

exposure at the time of monetary policy actions predicts future net worth, investment, and assets, verifying the stock pricing …

Persistent link: https://www.econbiz.de/10012860569

Japan's Imbalance of Payments

Müller-Plantenberg, Nikolas - 2003

During the past three decades, Japan's current account experienced five large swings. The yen appreciated considerably in periods when the current account boomed, and it depreciated whenever Japan's external performance weakened. However, there has always been a certain lag in the adjustment of...

Persistent link: https://www.econbiz.de/10010316001

Downward Revision of Investment Decisions after Corporate Tax Hikes

Link, Sebastian; Menkhoff, Manuel; Peichl, Andreas; … - 2022

This paper estimates the causal effect of corporate tax hikes on firm investment based on more than 1,400 local tax … changes. By observing planned and realized investment volumes in a representative sample of German manufacturing firms, we can … study how tax hikes induce firms to revise their investment decisions. On average, the share of firms that invest less than …

Persistent link: https://www.econbiz.de/10013353398

Let's Switch to the Cloud: Cloud Adoption and Its Effect on IT Investment and Productivity

Duso, Tomaso; Schiersch, Alexander - 2022

IT investment in any sectors, it does significantly improve labor productivity for firms in manufacturing and in …

Persistent link: https://www.econbiz.de/10013427730

In Pursuit of Fairness? Infrastructure Investment in Digital Markets

Kretschmer, Tobias - 2022

digitization, both in personal and professional life. I address the question of which actors should contribute to investment costs …

Persistent link: https://www.econbiz.de/10013470272

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