Search Results

Jovanovic (1982) cites Du Rietz (1975) as a source for Survival Rates of smaller firms are smaller than for larger firms It's his doctoral thesis, and using Swedish data. Is there any recent evide …

I'm reading a paper right now that refers to divisible and one-period IOUs, but doesn't explain what the shorthand stands for. I understand it's a unit of payment, and guess that is the same "thing" …

Side note: This is one way of solving it - the alternative would be formulating a Bellman equation and iterating on that. If you assume that the real economy is on or sufficiently close to the steady …

Yes and no. Temporary Shock It is correct, that a temporary increase in TFP has unclear effects on leisure: The **income effect* will increase consumption and leisure The **substitution effect* w …

I'm interested in currently hot research topics within Labor Macro. I'm only aware of the debate on the recent shift in the US Beveridge curve, and, of course, the olden but golden Shimer puzzle. Wh …

Bloom (2009) analyzes the impact of uncertainty shocks, and Bloom et al (2014) propose a business cycle model based on these shocks. It seems to be a young field, but is there any consensus on streng …

Macro regressions, especially annual ones, have in general two flaws: They have small sample problems and They have no proper identification In order to circumvent problem #1, people often assume …

Take a cont. diff, convex and increasing cost function $c(X)$. Say you start with a stock $K$, and want to (dis)invest $I$. Many adjustment cost functions (for example, the first example on page 2 her …

How exactly does Piketty et al's method (as in his book) for computing the interest rate over time and countries work? I know that they use reported tax returns, and that some criticize them for also …

Let's see how questions like the following are taken here. Gali and van Rens, 2014 show that empirically, the correlation between $Y, Y/L$ has been declining over time. In fact, it only was a "real t …

Mian and Sufi (2014) say We use individual and zip code level data, and exploit cross-sectional variation in house price growth to estimate the impact of rising home values on borrowing and spendi …

There has been a lot of evidence about the firm size distribution (as measured in employment) being Pareto (see for example Luttmer 2007), but what are the properties of this distribution over the bus …

I'm absolutely not from firm financing and look to read up on the subject, but mostly onto empirical stuff. Standard questions would be: What is the ratio of firms that finance themselves with bank …

I have the following system of equations $$ \rho V(u, \epsilon^i) = F(u, \epsilon^i) + V_u(u, \epsilon^i)g(u, V(u, \epsilon^i) + \lambda^i \left(V(u, \epsilon^{-i}) - V(u, \epsilon^i)\right)$$ with …

I don't think I've seen cases with a kink in continuous time that are solved numerically. Aguiar & Amador (2014) have a kink in their HJB, but they solve their HJB analytically. Validation I don't …