How Does Hedge Fund Activism Reshape Corporate
Innovation? NBER (2016-05-24)
This paper studies how hedge
fund activism reshapes corporate innovation. Firms targeted by hedge fund
activists experience an improvement in innovation efficiency during the
five-year period following the intervention. Despite a .. more |
Fiscal Buffers, Private Debt, and Stagnation : The Good, the Bad and the
Ugly IMF (2016-05-24)
We revisit the empirical relationship
between private/public debt and output, and build a model that reproduces it. In
the model, the government provides financial assistance to credit-constrained
agents to mitigate deleveraging. .. more |
Accounting for Productivity Dispersion over the Business Cycle FRB
(2016-05-24)
This paper presents accounting decompositions of changes in
aggregate labor and capital productivity. Our simplest decomposition breaks
changes in an aggregate productivity ratio into two components: A mean
component, which captur .. more | |