Showing 1 - 10 of 56
We provide a comprehensive analysis of how firms choose between different expansion and contraction forms, unifying existing approaches from the industrial organization and corporate finance literature. Using novel data covering almost the entire universe of UK firms, we document firms� use of...
Persistent link: https://www.econbiz.de/10009371192
We use business register data for the United Kingdom to document the importance of the different channels that firms use to adjust their size. We show how the choice of adjustment channel impacts upon firm-level variables such as wages or productivity.
Persistent link: https://www.econbiz.de/10010597222
We use unique business register data for the United Kingdom to investigate the effects of different forms of firm expansion and contraction on firm-level performance indicators such as wages and productivity. We distinguish between adjustment of employment and turnover at existing...
Persistent link: https://www.econbiz.de/10009386672
We present a novel set of stylised facts on forms of firm expansion and contraction, using unique business register data for the United Kingdom between 1997 and 2005. We distinguish between adjustments of employment and turnover at existing establishments, expansions and contractions taking...
Persistent link: https://www.econbiz.de/10008833248
We study the sustainability of public debt in a closed production economy where a benevolent government chooses fiscal policies, including haircuts on its outstanding debt, in a discretionary manner. Government bonds are held by domestic agents to smooth consumption over time and because they...
Persistent link: https://www.econbiz.de/10011164080
We describe a simple mechanism that generates inflation persistence in a standard sticky-price model of optimal fiscal and monetary policy. Key to this mechanism is that policies are decided under discretion. The government's discretionary incentive to erode the real value of nominal public debt...
Persistent link: https://www.econbiz.de/10011081515
We study the sustainability of public debt in a closed production economy where a benevolent government chooses scal policies, including haircuts on its outstanding debt, in a discretionary manner. Government bonds are held by domestic agents to smooth consumption over time and because they...
Persistent link: https://www.econbiz.de/10010818084
We study the sustainability of public debt in a closed production economy where a benevolent government chooses scal policies, including haircuts on its outstanding debt, in a discretionary manner. Government bonds are held by domestic agents to smooth consumption over time and because they...
Persistent link: https://www.econbiz.de/10010727776
We describe a simple mechanism that generates inflation persistence in a standard sticky-price model of optimal fiscal and monetary policy. Key to this mechanism is that policies are implemented under discretion. The government's discretionary incentive to erode the real value of nominal public...
Persistent link: https://www.econbiz.de/10010871012
We study the sustainability of public debt in a closed production economy where a benevolent government chooses fiscal policies, including haircuts on its outstanding debt, in a discretionary manner. Government bonds are held by domestic agents to smooth consumption over time and because they...
Persistent link: https://www.econbiz.de/10010875609