Search Results

Showing results 1 to 2 of approximately 2.

(refine search)
SORT BY: PREVIOUS / NEXT
Author:Saffie, Felipe 

Working Paper
Fewer but Better : Sudden Stops, Firm Entry, and Financial Selection

We incorporate endogenous technical change into a real business cycle small open economy framework to study the productivity costs of sudden stops. In this economy, productivity growth is determined by the entry of new firms and the expansion decisions of incumbent firms. New firms are created after the implementation of business ideas, yet the quality of ideas is heterogeneous and good ideas are scarce. Selection of the most promising ideas gives rise to a trade-off between mass (quantity) and composition (quality) in the entrant cohort. Chilean plant-level data from the sudden stop ...
International Finance Discussion Papers , Paper 1187

Working Paper
Exchange Rates and Endogenous Productivity

Real exchange rates (RERs) display sizable uctuations not only over the business cycle, but also at lower frequencies, resulting in large and persistent swings over decades|facts that many business cycle models struggle to match. We propose an international macroeconomics model with endogenous productivity to rationalize these facts. In the model, endogenous growth amplifies stationary uctuations generating persistent productivity differences between countries that trigger low-frequency cycles in the RER. The estimated model effortlessly replicates the empirical spectrum, autocorrelation, and ...
International Finance Discussion Papers , Paper 1301

FILTER BY year

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

F41 2 items

F43 2 items

F31 1 items

F40 1 items

F44 1 items

O11 1 items

show more (2)

FILTER BY Keywords

Endogenous Growth 2 items

Firm Dynamics 1 items

RBC 1 items

Real exchange rate 1 items

Selection 1 items

Sudden Stop 1 items

show more (2)

PREVIOUS / NEXT