|Statement||Virgiliu Midrigan, Daniel Yi Xu.|
|Series||NBER working paper series -- working paper 15647, Working paper series (National Bureau of Economic Research : Online) -- working paper no. 15647.|
|Contributions||Xu, Daniel Yi., National Bureau of Economic Research.|
|The Physical Object|
|LC Control Number||2010655671|
Virgiliu Midrigan & Daniel Yi Xu, "Finance and Misallocation: Evidence from Plant-Level Data," American Economic Review, American Economic Association, vol. (2), pages , February. citation courtesy of. Finance and the Misallocation of Scientific, Engineering and Mathematical Talent Giovanni Marin Francesco Vona Sachs.2 According to James Weatherall, the author of bestselling book \The Physics of Finance," Renaissance Technologies is \the best physics and mathe-matics department in the world". The Misallocation of Finance. Toni M. Whited and Jake Zhao Abstract We estimate the real losses that accrue from the cross-sectional misallocation of financial liabilities by extending the framework ofHsieh and Klenow()to the liabilities side of the balance sheet. Using manufacturing firm data from the United States and China, we find significant misallocation of debt and equity. calculate misallocation based on the credit-spread distribution of U.S. public rms using a static model. We also calculate misallocation using information on credit spreads, but we estimate a dynamic model with long-term bonds. Khan and Thomas() model .
Virgiliu Midrigan & Daniel Yi Xu, "Finance and Misallocation: Evidence from Plant-Level Data," American Economic Review, American Economic Association, vol. (2), pages , February. Download Citation | Finance and Misallocation: Evidence from Plant-Level Data | In this paper, I present empirical evidence for ve European countries (Germany, France, UK, Spain and Italy) and. Finance and Misallocation: Evidence from Plant-Level Data Virgiliu Midrigan Daniel Yi Xuy New York University New York University October Abstract We study a model of establishment dynamics in which entrepreneurs face a nancing constraint. We ask: does the model, when parameterized to match salient features of plant-level data, predict large. Finance and misallocation: Evidence from plant-level data. Working Paper, Department of Economics, New York Uni- versity. Restuccia, Diego, Rogerson, Richard,
However, the literature on the relationship between finance and misallocation is far from settled. Moll shows that in a simple setting where firms face collateral constraints à la Kiyotaki and Moore, if productivity shocks are persistent, then misallocation losses can be large and disappear only slowly. On the other hand, they are unimportant in steady state. International Finance Theory and Policy. This book covers the following topics: Introductory Finance Issues: Current Patterns, Past History, and International Institutions, National Income and the Balance of Payments Accounts, The Whole Truth about Trade Imbalances, Foreign Exchange Markets and Rates of Return, Interest Rate Parity, Purchasing. Using a database of 23, firms in 45 economies, we test the quantitative importance of access to finance and access to public and private credit for the determination of misallocation. We first d. Finance and Misallocation: Evidence from Plant-Level Data. Virgiliu Midrigan and Yi Xu (). American Economic Review, , vol. , issue 2, Abstract: We use producer-level data to evaluate the role of financial frictions in determining total factor productivity (TFP). We study a model of establishment dynamics in which financial frictions reduce TFP through two channels.