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Why Do Companies Go Public? An Empirical Analysis
Pagano, Marco; Panetta, Fabio; Zingales, Luigi - 2021
decision on a company's investment and financial policy. We compare both the ex ante and the ex post characteristics of IPOs … finance subsequent investment and growth, but to reduce leverage, (iv) going public reduces the cost of bank credit; (v) it is …
Persistent link: https://www.econbiz.de/10013244375
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Labor Market Frictions, Firm Growth, and International Trade
Fajgelbaum, Pablo D. - 2013
I study the aggregate effects of labor market frictions in a small open economy where firms grow slowly and make fixed export investments. The model features interactions between dynamic investments in exporting and search frictions with job-to-job mobility. A calibration to Argentina's economy...
Persistent link: https://www.econbiz.de/10013074919
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Productivity and Machinery Investment : A Long Run Look 1870-1980
DeLong, J. Bradford - 2010
Over the past century the long-run growth of six economies shows a strong association between investment in machinery …, and that a high rate of machinery investment is a necessary prerequisite for rapid long-run productivity growth - a …
Persistent link: https://www.econbiz.de/10012763337
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Aggregate Implications of Labor Market Distortions : The Recession of 2008-9 and Beyond
Mulligan, Casey B. - 2010
the end of 2007 as its only impulse - produces time series for aggregate labor usage, consumption, investment, and real … financial market - has investment fall steeply during the recession not because of any distortions with the supply of capital …
Persistent link: https://www.econbiz.de/10013148652
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Old Europe Ages : Reforms and Reform Backlashes
Börsch-Supan, Axel H. - 2010
focuses on three large Continental European countries: France, Germany, and Italy. These countries have large pay …
Persistent link: https://www.econbiz.de/10013147613
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Too Much of a Good Thing? the Economics of Investment in R&D
Jones, Charles I. - 2013
Research and development (Ramp;D) is a key determinant of long run productivity and welfare. A central issue is whether a decentralized economy undertakes too little or too much Ramp;D. We develop an endogenous growth model that incorporates parametrically four important distortions to Ramp;D:...
Persistent link: https://www.econbiz.de/10012754803
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How are Preferences Revealed?
Beshears, John - 2010
and investment outcomes …
Persistent link: https://www.econbiz.de/10012759332
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Irreversible Investment, Capital Costs and Productivity Growth : Implications for Telecommunications
Bernstein, Jeffrey I. - 2010
This paper develops a model incorporating costly disinvestment and estimates the associated commitment premium required to invest in telecommunications. Results indicate that the irreversibility premium raises the opportunity cost of capital by 70 percent. This implies an average annual hurdle...
Persistent link: https://www.econbiz.de/10012759928
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Spontaneous Volatility of Output and Investment
Hall, Robert E. - 2010
Spontaneous shifts in output originating within the business sector are an important factor in aggregate fluctuations. This paper develops a simple two-component decomposition of the movement of real GNP. One component is the path that GNP would have followed in order to deliver the volume of...
Persistent link: https://www.econbiz.de/10012760156
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The Economics of Fraudulent Accounting
Kedia, Simi - 2010
investment-less growth …
Persistent link: https://www.econbiz.de/10012762395