Results 271 to 280 of about 301,933 (307)

Credit Constraints, Competition, and Meritocracy

Journal of the European Economic Association, 2005
This paper studies a simple model of the talent-ownership mismatch—or failure of meritocracy—brought about by credit market imperfections that prevent the transfer of control over productive assets from the untalented rich to the talented poor. We present two main insights. First, there may be multiple equilibria in the degree of meritocracy.
Francesco Caselli, GENNAIOLI, NICOLA
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SME credit constraints and macroeconomic effects [PDF]

, 2013
This research attempts to answer two particular questions: a) what factors drive SME credit constraints in the Irish economy and b) what is the impact of such constraints on the macro-economy, in particular on employment and investment. We find that constraints decrease with firm size while there is variation by sector.
Gerlach, Petra, O'Connell, Brian, O'Toole, Conor   +2 more
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Global sourcing and credit constraints

Canadian Journal of Economics/Revue canadienne d'économique, 2017
AbstractThis paper incorporates credit constraints into a model of global sourcing and heterogeneous firms. Following Antràs and Helpman, heterogeneous firms decide whether to outsource or integrate input suppliers. Financing of fixed organizational costs requires borrowing with credit constraints and collateral based on tangible assets. The party that
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Exports, Productivity, and Credit Constraints

2021
Recent Melitz-type (2003) intra-industry heterogenous trade models argue that a firm’s productivity has significant effects on the firm’s exports. This chapter examines how a firm’s credit constraints as well as its productivity affect its export decisions.
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Credit constraints

2023
Nicolas Piluso, Louis-Philippe Rochon
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Credit Constraints and Contract Enforcement

Topics in Economic Analysis & Policy, 2006
Abstract This paper demonstrates that credit constraints can lead to the inability to enforce contracts, thereby creating inefficiency. If time elapses between the contract period and the enforcement period, a credit constrained agent that uses the proceeds of trade to fund consumption faces a greater cost to enforce a contract than an ...
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Credit constraints and delayed entrepreneurship

Journal of Economic Behavior & Organization, 2023
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Borrowing Constraints and Credit Demand [PDF]

, 2010
This paper investigates the determinants of credit demand in the presence of borrowing constraints for the Chilean economy using a recently collected detailed and innovative data set, the Households Financial Survey. The estimation procedure employed allows for the observed debt to be a function of multiple selection rules and incorporates the ...
Jaime Ruiz-Tagle, Francis Vella
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Credit constraints and US households

Applied Financial Economics, 1996
Empirical tests of the permanent income/life cycle hypothesis of consumption often find that consumption is excessively sensitive to current income. Some evidence suggests that this finding is due to the existence of credit constraints on consumers. Using data relating to a period before 1983, Jappelli has tried to identify the characteristics of those
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Optimal Investment under Credit Constraints

Annals of Economics and Statistics, 2009
We analyze in this paper the interaction between financing and investment decisions in presence of debt issuance costs. We find that, while debt issuance costs reduce tax shields, tax shields induce a higher investment trigger. Moreover, the investment trigger is a non-monotonic function of the borrowing capacity.
BELHAJ, Mohamed, DJEMBISSI, Bertrand
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