FINANCIAL FRICTIONS AND NEW EXPORTER DYNAMICS
نویسندگان
چکیده
منابع مشابه
Uncertainty, Financial Frictions, and Investment Dynamics
This paper analyzes—both empirically and theoretically—how fluctuations in uncertainty interact with financial market imperfections in determining economic outcomes. In a standard bond-contracting framework, an increase in uncertainty benefits equity holders at the expense of bondholders, and to the extent that firms face significant frictions in financial markets, increased uncertainty implies...
متن کاملFinancial frictions and shocks
This paper aims to quantify the extent to which sources of economic uctuations generate in the nancial markets. First, a novel identi cation method is introduced into a Bayesian VAR model in order to identify a nancial type shock which we refer to as a `risk news' shock. We identify the risk news shock in macroeconomic time series for the US, while simultaneously identifying other standard macr...
متن کاملThe Persistence of Development Dynamics: Financial Frictions and Mobility Distortions
Successful economic reforms produce long-lasting transitional dynamics for developing countries. This paper analyzes how financial frictions and mobility distortions generate the persistence of post-reform development dynamics. I build a general equilibrium model with heterogeneous agents, occupation choice and ruralurban migration, and I calibrate it to China. The mobility distortion is an occ...
متن کاملCustomer Markets and Financial Frictions: Implications for Inflation Dynamics
We study the influence of financial frictions on the cyclical dynamics of producer prices. Empirical results show that the response of industry-specific PPI inflation to changes in aggregate financial conditions depends importantly on differences in the ease of access to external finance across industries: In industries in which firms face a high likelihood of financial constraints, inflation i...
متن کاملFinancial Frictions, Financial Shocks, and Aggregate Volatility
I revisit the Great Inflation and the Great Moderation for nominal and real variables. I document a dichotomy in the evolution of the cyclical volatility of financial variables since the mid-1980s. While financial price variables are smoother during the Great Moderation, financial quantity measures experience an immoderation. A model with financial frictions and financial shocks allowing for st...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: International Economic Review
سال: 2016
ISSN: 0020-6598
DOI: 10.1111/iere.12164