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This paper examines how private equity buyouts affect export activity among target firms around the Brexit period. Using data on UK firms for 2012-2019 and difference-in-differences estimations for matched target versus non-target firms, we assess how the unprecedented Leave vote affects...
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We consider several economic uncertainty indicators for the United States and the UK before and during the COVID-19 pandemic: implied stock market volatility, newspaper-based economic policy uncertainty, twitter chatter about economic uncertainty, subjective uncertainty about future business...
Persistent link: https://www.econbiz.de/10014048799
The global finance crisis prompted central banks in many countries to cut short-term policy rates to near zero levels. Yet, lending rates did not fall as much as the decline in policy rates would have suggested. We argue that comparing lending rates to policy rates is misleading: banks do not...
Persistent link: https://www.econbiz.de/10013028279
Productivity is a key determinant of the sustainability of the public finances. While the initial impact of Covid-19 on labor productivity growth shows a surprisingly positive impact, the impact on total factor productivity (TFP) is less clear. We evaluate this with new survey data on labor and...
Persistent link: https://www.econbiz.de/10013221960
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This article addresses two fundamental questions about monetary policy, credit conditions and corporate activity. First, can we relate differences in the composition of debt between tight and loose periods of monetary policy to firm characteristics like size, age, indebtedness or risk? Second,...
Persistent link: https://www.econbiz.de/10003324478
The prospects for the economy depend crucially on the spending decisions that households and businesses make. Those decisions may depend, not just on their views on the most likely future outcome, but also on the degree of uncertainty around their expectations. Measuring and understanding those...
Persistent link: https://www.econbiz.de/10013323885
We consider several economic uncertainty indicators for the US and UK before and during the COVID-19 pandemic: implied stock market volatility, newspaper-based economic policy uncertainty, twitter chatter about economic uncertainty, subjective uncertainty about future business growth, and...
Persistent link: https://www.econbiz.de/10014095626