Imperfect Capital Markets
Imperfect capital markets and nominal wage rigidities
... with imperfect capital markets and nominal wage ...If markets are perfect and the Modigliani-Miller theorem holds, then asset prices reflect current economic conditions but otherwise have no ...
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The macroeconomics of imperfect capital markets. Whither saving-investment imbalances?
... of imperfect capital markets are rooted in the Post-Walrasian (Colander (1998)) research that, since the late 1970s, has reformulated the first principles of individual behaviour and market ...that ...
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Stochastic Capacity Investment and Flexible versus Dedicated Technology Choice in Imperfect Capital Markets
... under capital market imper- fections in a capacity investment ...decisions. Capital market imperfections impose financing frictions on the ...of capital market imperfections, and by analyzing the ...
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EXCHANGE RATES AND INVESTMENT BY MULTINATIONAL CORPORATIONS: A Firm-Level Test of the Imperfect Capital Markets Result.
... investment positions in response to exchange rate movements is inconsistent with many models of firms’ financial hedging decisions. For example, when external financing of investment is more costly then using internally ...
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Investment Reluctance: Irreversibility or Imperfect Capital Markets? Evidence from German Farm Panel Data
... As imperfect capital markets are characterized by informational asymmetries and agency problems induce transaction costs, a gap between firms’ cost for internal and external finance ...constrained ...
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Distributional Implications of Imperfect Capital Markets
... the point where the marginal increase in next periods income is equal to the opportunity cost of funds and that this opportunity cost is higher than the going market rate of interest whe[r] ...
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Global Sourcing under Imperfect Capital Markets
... In addition, as can be seen from the table, all the regressions include the following set of controls. First, the index of patent protection is interacted with R&D intensity. Multinational firms may prefer to source ...
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Global Sourcing under Imperfect Capital Markets
... This coefficient is positive in all specifications, consistent with the findings of Defever and Toubal (2008) for French firms. In addition, its inclusion does not affect the relevance of the financial development ...
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Multinational Firms, FDI Flows and Imperfect Capital Markets
... of capital market devel- opment and investor protections in host ...raise capital to fund projects, and external investors are aware of the possibility that these entrepreneurs might behave ...and ...
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Multinational Firms, FDI Flows and Imperfect Capital Markets
... to capital market depth are validated using tests that, through the use of affiliate fixed effects and the emphasis on the interaction term, are difficult to reconcile with alternative ...
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Firm investment in imperfect capital markets: A structural estimation
... [Table 2 about here] The first column represents the estimation of the model with full liquidity con- straints, i.e. when s = 0. As discussed in the previous subsection, all parameters are identified in this case. Since ...
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On the impact of inequality on investment and occupational choice under imperfect capital markets
... only capital inputs but also labour ...of capital market imperfections, lenders cannot observe the project’s returns so that borrowers always have incentive to report default and pay for the liquidation ...
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Financial policy and corporate investment in imperfect capital markets : the case of Korea
... (cash, bank deposits, and govemment securi- This reliance on new share issues as the ties), other companies' shares, and accounts marginal source of financial capital is consistent re[r] ...
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Cross-Border Investment: Information Asymmetry, Imperfect Capital Markets, And Heterogeneous Firms
... the large capital inflows due to a sizeable depreciation of the real exchange rate and the destabilization of the macroeconomy. The findings of this paper point to new avenues for future research. First, as ...
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Counterproductive counternarcotic strategies? A study of the effects of opium eradication in the presence of imperfect capital markets and sharecropping arrangements
... rental markets that are usually assumed when evaluating economic ...insurance markets are limited, informal credit systems and sharecropping arrangements have become integral parts of the rural ...futures ...
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Financial Market Regulation, Imperfect Capital Markets, and Industrial Concentration: Mexico in Comparative Perspective, 1830-1930
... This paper proposes to move beyond the literature on the econo mies of Western Europe and the United States through an historical analysis of the impact of access to impersonal sources o[r] ...
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Imperfect competition in financial markets and capital structure
... does imperfect competition matter for capital structure? Once the …nancial intermediaries start to behave strategically, the logic of conventional capital structure theories falls ...choose ...
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Cyclical effects of bank capital requirements with imperfect credit markets
... II-type capital standards in a simple model that captures some of the most salient credit market imperfections that characterize middle- income ...model, capital requirements are essentially aimed at ...
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Imperfect Competition in Financial Markets and Capital Controls: A Model and a Test
... financial markets and controls on the capital account and finds that even in a world free of transactions costs and counterparty risks, capital controls alone are not sufficient to cause interest ...
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Wealth Distribution, Investment in Human Capital and Occupational Choice When Capital Markets Are Imperfect
... R iccardaL ongaretti ¤ N ovember9 , 2001 A bstract In ordertostudy the long-run e¤ ects ofagents’heterogeneity we consideroverlapping generations ofindividuals who di¤ erfrom one anotherin wealth and ine¢ciency level. W ...
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