This paper is concerned with the saddle-path stability of monetary growth rules in a two-country two-sector dynamic stochastic general equilibrium model. Alongside standard features of emerging economies, such as a combination of producer and local currency pricing for exports, fiscal dominance and oil exports, this model also incorporates informal labour and production sectors and examines how...

This paper reassesses the link between ICT prices, technology, and productivity. To understand how the ICT sector could come to the rescue of a whole economy, we extend a multi-sector model due to Oulton (2012) to include ICT services (e.g., cloud services) and use it to calibrate the steady-state contribution of the ICT sector to growth in aggregate U.S. labor productivity. Because ICT technol...

This study aims to test whether Return On Assets, Current Ratio, Net Profit Margin, Total Asset Turnover have an effect on the growth of profits listed Indonesia Stock Exchange. research is a type quantitative descriptive research, which uses data from 135 large and small trading sector manufacturing companies Partially, variables return assets, current ratio total asset turnover no profit grow...

We consider an infinite-horizon general equilibrium model with heterogeneous agents and financial market imperfections. We investigate the role of dividend taxation on economic growth and asset price. The optimal dividend taxation is also studied.

During the last decade, intellectual capital (IC) and intangible assets have been widely considered as critical tool to deliver successful business in an intensive-knowledge environment. Accordingly, the main goal of this paper is therefore to develop and prioritize the most important indicators of intellectual capital in knowledge-based industries. Based on an extensive literature review, a va...

Government guarantees of private debt deplete equity. The depletion is greatest during periods when the probability of a guarantee payoff is highest. In a setting otherwise subject to Modigliani-Miller neutrality, firms issue guaranteed debt up to the limit the government permits. Declines in asset values raise debt in relation to asset values and thus deplete equity directly, under the realist...

In the first module of this class we will study asset pricing implications of recursive contract theory. I will start by reviewing asset pricing in complete markets. Chapter 8 in Ljungqvist and Sargent (2004) provides background reading. The main topic of this module is asset pricing in an environment with limited commitment. As in the complete markets environment, agents can still trade a comp...

a number of theories about the hest method of allocating assets have been developed over the years, managers are concernd about allocating scarce resources, mainly capital, in most productive way. managers want to ensure that the return from the invested resources exceeds the cost of resources finanical theories and finanicial strategies try to facilitate creating optimum value for investors in...

The purpose of this study is to investigate the effects of "Asset Securitization" on bankschr('39') performances. Asset securitization is generally defined as the "financial process by which an owner of an asset, such as a portfolio of loans, receives cash upfront in exchange for the future cash flows from the asset without selling the asset in a normal contractual sales agreement." (Menzi et a...