ABSTRACT Zero‐leverage firms remain a puzzle in corporate finance. We propose a supply‐side mechanism linking environmental impact to debt access. Because creditors favour firms with high negative externalities and strong cash flows, environmentally friendly firms with high initial costs face tighter credit constraints.
Paolo Saona +3 more
wiley +1 more source
Producing the Consumer Price Index (CPI) and the COVID-19 Pandemic in Latin America and the Caribbean [PDF]
openaire +1 more source
Life Cycle Consumption and Portfolio Choice Under Real Interest Rate Risk
ABSTRACT We set up a life cycle model with real interest rate risk to demonstrate that real interest rates have implications for optimal household consumption and investments. Lower interest rates lead to higher optimal stock investments and lower consumption.
Marcel Fischer, Natascha Jankowski
wiley +1 more source
Impact of digital economy on residents' medical cost: an empirical analysis based on interprovincial data from China. [PDF]
Zheng K +10 more
europepmc +1 more source
When in Doubt, Tax More Progressively? Uncertainty and Progressive Income Taxation
ABSTRACT We study the optimal income tax problem under parameter uncertainty about household preferences and wage dynamics. We derive conditions characterizing how such uncertainty affects optimal tax policy. To quantify the effect, we estimate a life‐cycle model using US data and a Bayesian approach.
Minsu Chang, Chunzan Wu
wiley +1 more source
Follow the Cuts in American Healthcare From 2001 to 2026: A Three-Ledger Analysis of Scrutiny-Control Inversion, Payment Restraint, Revenue Capture, and Official Blame. [PDF]
Klapper AM +5 more
europepmc +1 more source
Impact of Consumer Price Index (CPI) and Inflation on GDP: Evidence from Bangladesh
Md. Sabbir Hossain +2 more
openaire +1 more source
Labor Market Monopsony Power and the Dynamic Gains to Openness Reforms
ABSTRACT We embed labor market monopsony into a dynamic heterogeneous‐firm general equilibrium model with exporting, horizontal FDI, and rich firm lifecycle dynamics. Rising marginal costs with monopsony slow and limit incumbent firm growth in response to liberalization, shifting adjustment to the extensive margin.
Priyaranjan Jha +2 more
wiley +1 more source
The hidden cost of patient feedback: analysis of a decade of NHS expenditure on orthopaedic PROMs. [PDF]
Cook P, Alhashash M, Wakeling C.
europepmc +1 more source
Heterogeneous Markups Cyclicality and Monetary Policy
ABSTRACT This paper studies aggregate markup cyclicality through firm‐level heterogeneity, reallocation, and aggregation. Using the U.S. firm data for 1990–2016, we find that markups are procyclical for young firms and countercyclical for older firms following monetary policy shocks. Economic activity also reallocates modestly toward young firms.
Andrea Chiavari +2 more
wiley +1 more source

