Financial frictions, occupational choice and economic inequality
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DOI: 10.1016/j.jmoneco.2018.12.003
Abstract: We develop a quantitative theory of entrepreneurship, income inequality, and financial frictions disciplined with household data from Brazil. The theory extends Lucas (1978) by modeling heterogeneity in two skills: -working and managerial skills. Consistently with… read more here.
Keywords: inequality; inequality financial; financial frictions; frictions occupational ... See more keywords
Optimal fiscal policy in a model of firm entry and financial frictions
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DOI: 10.1016/j.red.2019.05.001
Abstract: This paper develops a general equilibrium model of firm entry and financial frictions. Movements in the volatility of firm-level shocks and aggregate productivity generate procyclical entry and a countercyclical firm default rate. We derive analytical… read more here.
Keywords: entry; optimal fiscal; firm entry; firm ... See more keywords
Misallocation and financial frictions: The role of long-term financing
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DOI: 10.1016/j.red.2020.09.002
Abstract: Abstract We analyze misallocation of capital in a model where firms face different types of financial constraints. Private firms borrow subject to a collateral constraint while public firms issue long-term bonds subject to default risk.… read more here.
Keywords: misallocation financial; financial frictions; public firms; long term ... See more keywords
Financial Inclusion, Financial Frictions, and Economic Growth: Evidence from Africa
Sign Up to like & getrecommendations! Published in 2021 at "Journal of African Business"
DOI: 10.1080/15228916.2021.1926856
Abstract: This paper aims to first, develop an analytical framework that examines the role of financial inclusion in promoting investment and economic growth, through the reduction of financial imperfections... read more here.
Keywords: economic growth; financial inclusion; inclusion financial; financial frictions ... See more keywords