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Corbi, Raphael B. - 2014

We exploit a series of discontinuities, at several population thresholds, in the allocation mechanism of federal …

Persistent link: https://www.econbiz.de/10013040228

Bertola, Giuseppe; Rogerson, Richard Donald - 2021

Despite stringent dismissal restrictions in most European countries, rates of job creation and destruction are remarkably similar across European and North American labor markets. This paper shows that relative-wage compression is conducive to higher employer-initiated job turnover, and argues...

Persistent link: https://www.econbiz.de/10013224868

Resource Misallocation in European Firms : The Role of Constraints, Firm Characteristics and Managerial Decisions

Gorodnichenko, Yuriy - 2018

). To interpret this dispersion, we develop a highly portable framework to quantify gains from better allocation of …

Persistent link: https://www.econbiz.de/10012923711

How Do Laffer Curves Differ Across Countries?

Trabandt, Mathias - 2012

We seek to understand how Laffer curves differ across countries in the US and the EU-14, thereby providing insights into fiscal limits for government spending and the service of sovereign debt. As an application, we analyze the consequences for the permanent sustainability of current debt...

Persistent link: https://www.econbiz.de/10013110242

Systemic Sovereign Credit Risk : Lessons from the U.S. And Europe

Ang, Andrew - 2011

We study the nature of systemic sovereign credit risk using CDS spreads for the U.S. Treasury, individual U.S. states, and major European countries. Using a multifactor affine framework that allows for both systemic and sovereign-specific credit shocks, we find that there is considerable...

Persistent link: https://www.econbiz.de/10013125926

A Theory of the Production and Allocation of Effort

Becker, Gary S. - 2022

The purpose of this paper is to analyze systematically the production of effort and its allocation among different … of the production and allocation of effort by a free person. Section III applies this analysis to the value placed on … wage rates offered and the effort supplied by their workers. Section V analyzes the production and allocation of effort by …

Persistent link: https://www.econbiz.de/10014158837

Firing Costs, Misallocation, and Aggregate Productivity

Da-Rocha, José María - 2017

We assess the quantitative impact of firing costs on aggregate total factor productivity (TFP) in a dynamic general-equilibrium framework where the distribution of establishment-level productivity is not invariant to the policy. Firing costs not only generate static factor misallocation, but...

Persistent link: https://www.econbiz.de/10012966591

Market Power, Production (Mis)Allocation and OPEC

Asker, John - 2017

This paper estimates the extent to which market power is a source of production misallocation. Productive inefficiency occurs through more production being allocated to higher-cost units of production, and less production to lower-cost production units, conditional on a fixed aggregate quantity....

Persistent link: https://www.econbiz.de/10012948063

Misallocation, Establishment Size, and Productivity

Bento, Pedro - 2016

We consider a tractable model of heterogeneous production units that features endogenous entry and productivity investment to assess the quantitative impact of policy distortions on aggregate output and establishment size. Relative to the standard factor misallocation framework, policy...

Persistent link: https://www.econbiz.de/10012979762

Capital Reallocation

Eisfeldt, Andrea L. - 2018

Capital reallocation is procyclical, despite measured productive reallocative opportunities being acyclical, or even countercyclical. This paper reviews the advances in the literature studying the causes and consequences of capital reallocation (or lack thereof). We provide a comprehensive set...

Persistent link: https://www.econbiz.de/10012910643