Showing 1 - 10 of 35
Persistent link: https://www.econbiz.de/10009376721
Previous studies show that firms with low inventory growth outperform firms with high inventory growth in the cross-section of publicly traded firms. In addition, inventory investment is volatile and procyclical, and inventory-to-sales is persistent and countercyclical. We embed an inventory...
Persistent link: https://www.econbiz.de/10009697751
Persistent link: https://www.econbiz.de/10010378881
Persistent link: https://www.econbiz.de/10009515874
In a neoclassical dynamic model of the firm with labor market frictions, optimal hiring is a forward-looking decision that depends on both discount rates and expected cash flows. Empirically, we show that: a) the aggregate hiring rate of publicly traded firms in the U.S. economy negatively...
Persistent link: https://www.econbiz.de/10012837756
Persistent link: https://www.econbiz.de/10014331558
Persistent link: https://www.econbiz.de/10015045717
This paper studies the financial sources of aggregate risks and their impact for the cross section of asset prices. We show that in a dynamic general equilibrium model with frictions in both equity and debt markets, shocks to the costs of external equity and debt issuances, affect households'...
Persistent link: https://www.econbiz.de/10014235414
I study the cross sectional variation of stock returns and technological progress using a dynamic equilibrium model with production. In the model, technological progress is endogenously driven by Ramp;D investment and is composed of two parts. One part is product innovation devoted to creating...
Persistent link: https://www.econbiz.de/10009697758
Persistent link: https://www.econbiz.de/10003966874