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Displaying results 1 to 4 of 4.

  1. Capital misallocation and secular stagnation
    Author: Caggese, Andrea; Pérez, Ander
    Published: [2019]
    Publisher:  GSE, Graduate School of Economics, Barcelona

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Edition: This version: February 2019
    Series: Barcelona GSE working paper series ; no 1056
    Subjects: Intangible Capital; Borrowing Constraints; Capital Reallocation; Secular Stagnation
    Scope: 1 Online-Ressource (circa 75 Seiten), Illustrationen
    Notes:

    Frühere Version unter dem Titel: Reallocation of intangible capital and secular stagnation
  2. Sentiment, liquidity and asset prices
    Author: Asriyan, Vladimir; Fuchs, William; Green, Brett
    Published: October 2017
    Publisher:  Universitat Pompeu Fabra, Department of Economics and Business, Barcelona

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Edition: Preliminary draft
    Series: Economics working paper series ; no. 1583
    Subjects: Sentiment; Liquidity; Asset Prices; Capital Reallocation; Business Cycles
    Scope: 1 Online-Ressource (circa 32 Seiten), Illustrationen
  3. Capital misallocation and secular stagnation
    Author: Caggese, Andrea; Pérez, Ander
    Published: 17 January, 2017
    Publisher:  Divisions of Research & Statistics and Monetary Affairs, Federal Reserve Board, Washington, D.C.

    The widespread emergence of intangible technologies in recent decades may have significantly hurt output growth -- even when these technologies replaced considerably less productive tangible technologies -- because of structurally low interest rates... more

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    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    The widespread emergence of intangible technologies in recent decades may have significantly hurt output growth -- even when these technologies replaced considerably less productive tangible technologies -- because of structurally low interest rates caused by demographic forces. This insight is obtained in a model in which intangible capital cannot attract external finance, firms are credit constrained, and there is substantial dispersion in productivity. In a tangibles-intense economy with highly leveraged firms, low rates enable more borrowing and faster debt repayment, reduce misallocation, and increase aggregate output. An increase in the share of intangible capital in production reduces the borrowing capacity and increases the cash holdings of the corporate sector, which switches from being a net borrower to a net saver. In this intangibles-intense economy, the ability of firms to purchase intangible capital using retained earnings is impaired by low interest rates, because low rates increase the price of capital and slow down the accumulation of corporate savings

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Edition: This version: January 17, 2017
    Series: Finance and economics discussion series ; 2017, 009
    FEDS Working Paper ; No. 2017-009
    Subjects: Borrowing Constraints; Capital Reallocation; Intangible Capital; Secular Stagnation
    Scope: 1 Online-Ressource (circa 56 Seiten), Illustrationen
  4. Sentiment, liquidity and asset prices
    Author: Asriyan, Vladimir; Fuchs, William; Green, Brett
    Published: October 2017
    Publisher:  GSE, Graduate School of Economics, Barcelona

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Barcelona GSE working paper series ; no 993
    Subjects: Sentiment; Liquidity; Asset Prices; Capital Reallocation; Business Cycles
    Scope: 1 Online-Ressource (1 Seite), Illustrationen