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Citations for "Optimal Lending Contracts and Firm Dynamics"

by Rui Albuquerque & Hugo A. Hopenhayn

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  1. Aghion, Philippe & Fally, Thibault & Scarpetta, Stefano, 2007. "Credit Constraints as a Barrier to the Entry and Post-Entry Growth of Firms," IZA Discussion Papers 3237, Institute for the Study of Labor (IZA).
  2. Kharroubi, E., 2006. "Illiquidity, Financial Development and the Growth-Volatility Relationship Illiquidity, Financial Development and the Growth-Volatility Relationship," Working papers 139, Banque de France.
  3. Allen N. Berger & Marco A. Espinosa-Vega & W. Scott Frame & Nathan H. Miller, 2007. "Why do borrowers pledge collateral? new empirical evidence on the role of asymmetric information," Working Paper 2006-29, Federal Reserve Bank of Atlanta.
  4. Lance J. Lochner, 2009. "The Nature of Credit Constraints and Human Capital," 2009 Meeting Papers 745, Society for Economic Dynamics.
  5. Degryse, H.A. & Ioannidou, V. & Schedvin, E.L. von, 2011. "On the Non-Exclusivity of Loan Contracts: An Empirical Investigation," Discussion Paper 2011-130, Tilburg University, Center for Economic Research.
  6. Hsieh, Chang-Tai & Klenow, Peter J., 2012. "The Life Cycle of Plants in India and Mexico," Working Papers 12-20, Center for Economic Studies, U.S. Census Bureau.
  7. Lance Lochner & Alexander Monge-Naranjo, 2011. "Credit Constraints in Education," Working Papers 2011-036, Human Capital and Economic Opportunity Working Group.
  8. Aubhik Khan & Julia K. Thomas, 2013. "Credit Shocks and Aggregate Fluctuations in an Economy with Production Heterogeneity," Journal of Political Economy, University of Chicago Press, vol. 121(6), pages 1055 - 1107.
  9. Guido Lorenzoni & Karl Walentin, 2006. "Financial Frictions, Investment and Tobin's q," 2006 Meeting Papers 844, Society for Economic Dynamics.
  10. Pengfei Wang & Yi Wen, 2012. "Hayashi Meets Kiyotaki and Moore: A Theory of Capital Adjustment," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 15(2), pages 207-225, April.
  11. Wright, Mark, 2004. "Firm Size Dynamics in the Aggregate Economy," Santa Cruz Department of Economics, Working Paper Series qt4rs4202s, Department of Economics, UC Santa Cruz.
  12. Deng, Ziliang & Guo, Honglin & Zhang, Weifu & Wang, Chengqi, 2014. "Innovation and survival of exporters: A contingency perspective," International Business Review, Elsevier, vol. 23(2), pages 396-406.
  13. Pierre Yared & Gerard Padro i Miquel, 2010. "The Political Economy of Indirect Control," 2010 Meeting Papers 306, Society for Economic Dynamics.
  14. Abiad, Abdul & Oomes, Nienke & Ueda, Kenichi, 2008. "The quality effect: Does financial liberalization improve the allocation of capital?," Journal of Development Economics, Elsevier, vol. 87(2), pages 270-282, October.
  15. Alexander Karaivanov & Robert M. Townsend, 2013. "Dynamic Financial Constraints: Distinguishing Mechanism Design from Exogenously Incomplete Regimes," NBER Working Papers 19617, National Bureau of Economic Research, Inc.
  16. Cristina Arellano & Yan Bai & Jing Zhang, 2009. "Firm Dynamics and Financial Development," NBER Working Papers 15193, National Bureau of Economic Research, Inc.
  17. Benjamin Moll & Robert M. Townsend & Victor Zhorin, 2013. "Financial Obstacles and Inter-Regional Flow of Funds," NBER Working Papers 19618, National Bureau of Economic Research, Inc.
  18. Michael Riordan, 2003. "How Do Capital Markets Influence Product Market Competition?," Review of Industrial Organization, Springer, vol. 23(3), pages 179-191, December.
  19. Professor Yong Kim & Univ. Southern California, 2004. "Asset ownership and Asset Values Over Project Lifecycles," Econometric Society 2004 Far Eastern Meetings 604, Econometric Society.
  20. Andrea Caggese, 2001. "Financing constraints, irreversibility and investment dynamics," Economics Working Papers 1008, Department of Economics and Business, Universitat Pompeu Fabra, revised Aug 2006.
  21. Román Fossati, 2012. "Outsourcing versus vertical integration: A dynamic model of industry equilibrium," Working Papers 2012-07, Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales.
  22. Gian Luca Clementi & Hugo Hopenhayn, 2002. "A Theory of Financing Constraints and Firm Dynamics," RCER Working Papers 492, University of Rochester - Center for Economic Research (RCER).
  23. Sandro Brusco & Eva Ropero, 2007. "Financing Constraints and Firm Dynamics with Durable Capital," Department of Economics Working Papers 07-08, Stony Brook University, Department of Economics.
  24. Jianjun Miao & PENGFEI WANG, 2011. "Sectoral Bubbles and Endogenous Growth," Boston University - Department of Economics - Working Papers Series WP2011-032, Boston University - Department of Economics.
  25. Bernardo Guimaraes, 2007. "Optimal external debt and default," 2007 Meeting Papers 104, Society for Economic Dynamics.
  26. Abdelhamid, El Bouhadi & Omar, Essardi, 2007. "Micro-microcrédit et asymétries d’information : cas du Maroc
    [INFORMATION asymmetries and microcredit: The Moroccan case]
    ," MPRA Paper 20080, University Library of Munich, Germany.
  27. Galina Vereshchagina & Hugo A. Hopenhayn, 2009. "Risk Taking by Entrepreneurs," American Economic Review, American Economic Association, vol. 99(5), pages 1808-30, December.
  28. Shaffer , Sherrill & Hasan , Iftekhar & Zhou, Mingming, 2009. "New small firms and dimensions of economic performance," Research Discussion Papers 4/2009, Bank of Finland.
  29. Andrés Rodríguez-Clare, 2005. "Intervenciones microeconómicas después del Consenso de Washington," Research Department Publications 4394, Inter-American Development Bank, Research Department.
  30. Zhang, Yuzhe, 2013. "Characterization of a risk sharing contract with one-sided commitment," Journal of Economic Dynamics and Control, Elsevier, vol. 37(4), pages 794-809.
  31. Amaresh K. Tiwari & Pierre Mohnen & Franz Palm & Sybrand Schim van der Loeff, 2012. "Microeconometric Evidence of Financing Frictions and Innovative Activity," CIRANO Working Papers 2012s-24, CIRANO.
  32. Carlos Pérez Montes, 2011. "Optimal capital structure and Regulatory Control," Banco de Espa�a Working Papers 1128, Banco de Espa�a.
  33. Kislat, Carmen & Menkhoff, Lukas & Neuberger, Doris, 2013. "The use of collateral in formal and informal lending," Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79765, Verein für Socialpolitik / German Economic Association.
  34. Vickery, James, 2008. "How and why do small firms manage interest rate risk," Journal of Financial Economics, Elsevier, vol. 87(2), pages 446-470, February.
  35. Jonathan P Thomas & Tim Worrall, 2010. "Dynamic Relational Contracts with Credit Constraints," The School of Economics Discussion Paper Series 1009, Economics, The University of Manchester.
  36. Cerqueiro, G.M. & Penas, M.F., 2011. "How Does Personal Bankruptcy Law Affect Start-ups?," Discussion Paper 2011-043, Tilburg University, Tilburg Law and Economic Center.
  37. Neng Wang & Rui Albuquerque, 2005. "Agency Conflicts, Investment, and Asset Pricing," Computing in Economics and Finance 2005 351, Society for Computational Economics.
  38. Bernard, Andrew & Redding, Stephen J & Schott, Peter, 2006. "Multi-Product Firms and Product Switching," CEPR Discussion Papers 5708, C.E.P.R. Discussion Papers.
  39. Thomas F. Cooley & Ramon Marimon & Vincenzo Quadrini, 2013. "Risky Investments with Limited Commitment," NBER Working Papers 19594, National Bureau of Economic Research, Inc.
  40. Berger, A.N. & Frame, W.S. & Ioannidou, V., 2012. "Reexamining the Empirical Relation between Loan Risk and Collateral: The Role of the Economic Characteristics of Collateral," Discussion Paper 2012-078, Tilburg University, Center for Economic Research.
  41. Chen, Jeff Zeyun & Lobo, Gerald J. & Wang, Yanyan & Yu, Lisheng, 2013. "Loan collateral and financial reporting conservatism: Chinese evidence," Journal of Banking & Finance, Elsevier, vol. 37(12), pages 4989-5006.
  42. Jaime Guajardo, 2008. "Financial Frictions and Business Cycles in Middle-Income Countries," IMF Working Papers 08/20, International Monetary Fund.
  43. James Vickery, 2005. "How and why do small firms manage interest rate risk? Evidence from commercial loans," Staff Reports 215, Federal Reserve Bank of New York.
  44. Cabral, Luís M B & Mata, José, 2001. "On the Evolution of the Firm Size Distribution: Facts and Theory," CEPR Discussion Papers 3045, C.E.P.R. Discussion Papers.
  45. Grochulski, Borys & Zhang, Yuzhe, 2011. "Optimal risk sharing and borrowing constraints in a continuous-time model with limited commitment," Journal of Economic Theory, Elsevier, vol. 146(6), pages 2356-2388.
  46. Gine, Xavier & Townsend, Robert M., 2003. "Evaluation of financial liberalization : a general equilibrium model with constrained occupation choice," Policy Research Working Paper Series 3014, The World Bank.
  47. Langberg, Nisan, 2008. "Optimal financing for growth firms," Journal of Financial Intermediation, Elsevier, vol. 17(3), pages 379-406, July.
  48. Giulio Bottazzi & Angelo Secchi & Federico Tamagni, 2010. "Financial Constraints and Firm Dynamics," Discussion Papers 2010/99, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy.
  49. Gabriel de Abreu Madeira, 2012. "Legal Enforcement, Default and Heterogeneity of Project Financing Contracts," Working Papers, Department of Economics 2012_31, University of São Paulo (FEA-USP).
  50. Daniel, Betty C. & Jones, John Bailey, 2007. "Financial liberalization and banking crises in emerging economies," Journal of International Economics, Elsevier, vol. 72(1), pages 202-221, May.
  51. Peter M. DeMarzo & Yuliy Sannikov, 2004. "A Continuous-Time Agency Model of Optimal Contracting and Capital Structure," NBER Working Papers 10615, National Bureau of Economic Research, Inc.
  52. Mark Aguiar & Manuel Amador & Gita Gopinath, 2006. "Efficient expropriation: sustainable fiscal policy in a small open economy," Working Papers 06-9, Federal Reserve Bank of Boston.
  53. Huynh, Kim P. & Petrunia, Robert J. & Voia, Marcel, 2012. "Duration of new firms: The role of startup financial conditions, industry and aggregate factors," Structural Change and Economic Dynamics, Elsevier, vol. 23(4), pages 354-362.
  54. Rui Albuquerque, 2004. "The Composition of International Capital Flows: Risk Sharing Through Foreign Direct Investment," International Finance 0405004, EconWPA.
  55. Nicola Pavoni & Ramon Marimon & Matthias Messner, 2005. "On the Recursive Saddle Point Method," 2005 Meeting Papers 294, Society for Economic Dynamics.
  56. Andrés Rodríguez-Clare, 2005. "Microeconomic Interventions after the Washington Consensus," Research Department Publications 4393, Inter-American Development Bank, Research Department.
  57. Mark Aguiar & Manuel Amador & Gita Gopinath, 2009. "Investment Cycles and Sovereign Debt Overhang," Review of Economic Studies, Oxford University Press, vol. 76(1), pages 1-31.
  58. Chiara Coluzzi & Annalisa Ferrando & Carmen Martínez-Carrascal, 2009. "Financing obstacles and growth: An analysis for euro area non-financial corporations," Banco de Espa�a Working Papers 0836, Banco de Espa�a.
  59. Jianjun Miao & PENGFEI WANG, 2010. "Credit Risk and Business Cycles," Boston University - Department of Economics - Working Papers Series WP2010-033, Boston University - Department of Economics.
  60. Coluzzi, Chiara & Ferrando, Annalisa & Martinez-Carrascal, Carmen, 2009. "Financing obstacles and growth: an analysis for euro area non-financial corporations," Working Paper Series 0997, European Central Bank.
  61. Hugo Hopenhayn & Arantxa Jarque, 2006. "Moral Hazard and Persistence," 2006 Meeting Papers 670, Society for Economic Dynamics.
  62. Pengfei Wang & Jianjun Miao, 2011. "Bubbles and Credit Constraints," 2011 Meeting Papers 94, Society for Economic Dynamics.
  63. Nicola Cetorelli, 2009. "Credit market competition and the nature of firms," Staff Reports 366, Federal Reserve Bank of New York.
  64. Harold L. Cole, 2008. "Self-Enforcing Stochastic Monitoring and the Separation of Debt and Equity Claims," NBER Working Papers 14480, National Bureau of Economic Research, Inc.
  65. Enisse Kharroubi, 2004. "Macroeconomic Volatility and endogenous debt maturity choice," Money Macro and Finance (MMF) Research Group Conference 2004 22, Money Macro and Finance Research Group.
  66. Braggion, F., 2008. "Managers, Firms and (Secret) Social Networks: The Economics of Freemasonry," Discussion Paper 2008-36, Tilburg University, Center for Economic Research.
  67. Grochulski, Borys & Zhang, Yuzhe, 2009. "Borrowing Constraint as an Optimal Contract," MPRA Paper 23216, University Library of Munich, Germany.
  68. Onur Ozgur, 2005. "A Model of Dynamic Liquidity Contracts," Microeconomics 0502004, EconWPA.
  69. Jaime C. Guajardo, 2007. "Financial Frections and Business Cycles in Middle Income Countries," Working Papers Central Bank of Chile 444, Central Bank of Chile.
  70. Biais, Bruno & Mariotti, Thomas & Plantin, Guillaume & Rochet, Jean-Charles, 2004. "Dynamic Security Design: Convergence to Continuous Time and Asset Pricing Implications," IDEI Working Papers 312, Institut d'Économie Industrielle (IDEI), Toulouse, revised Sep 2006.
  71. Keiichiro Kobayashi & Tomoyuki Nakajima, 2014. "A macroeconomic model of liquidity crises," CIGS Working Paper Series 14-003E, The Canon Institute for Global Studies.
  72. Sakai, Koji & Uesugi, Iichiro & Watanabe, Tsutomu, 2010. "Firm age and the evolution of borrowing costs: Evidence from Japanese small firms," Journal of Banking & Finance, Elsevier, vol. 34(8), pages 1970-1981, August.
  73. Joao Gomes & Amir Yaron & Lu Zhang, 2002. "Asset Prices and Business Cycles with Costly External Finance," NBER Working Papers 9364, National Bureau of Economic Research, Inc.
  74. Giorgio Fagiolo & Alessandra Luzzi, 2004. "Do Liquidity Constraints Matter in Explaining Firm Size and Growth? Some Evidence from the Italian Manufacturing Industry," LEM Papers Series 2004/08, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
  75. Fishman, Arthur & Krausz, Miriam, 2010. "Adverse selection, endogenous borrowing constraints and firm growth," Economics Letters, Elsevier, vol. 108(2), pages 219-221, August.
  76. Allen N. Berger & W. Scott Frame & Vasso Ioannidou, 2010. "Tests of ex ante versus ex post theories of collateral using private and public information," Working Paper 2010-06, Federal Reserve Bank of Atlanta.
  77. Alessandro Dovis, 2013. "Efficient Sovereign Default," 2013 Meeting Papers 293, Society for Economic Dynamics.
  78. Ugo Panizza, 2013. "Financial Development and Economic Growth: Known Knowns, Known Unknowns, and Unknown Unknowns," IHEID Working Papers 14-2013, Economics Section, The Graduate Institute of International Studies.
  79. Harold Cole & Andrew Atkeson, 2004. "A Dynamic Theory of Optimal Capital Structure and Executive Compensation," 2004 Meeting Papers 267, Society for Economic Dynamics.
  80. Jianjun Miao & PENGFEI WANG & Lifang Xu, 2012. "Stock Market Bubbles and Unemployment," Boston University - Department of Economics - Working Papers Series WP2012-011, Boston University - Department of Economics.
  81. Allen N. Berger & W. Scott Frame & Vasso Ioannidou, 2011. "Reexamining the empirical relation between loan risk and collateral: the roles of collateral characteristics and types," Working Paper 2011-12, Federal Reserve Bank of Atlanta.
  82. Laurence Ales & Pricila Maziero & Pierre Yared, 2012. "A Theory of Political and Economic Cycles," NBER Working Papers 18354, National Bureau of Economic Research, Inc.
  83. Hengjie Ai & Rui Li, 2012. "Moral hazard, investment, and firm dynamics," CQER Working Paper 2012-01, Federal Reserve Bank of Atlanta.
  84. Espen R. Moen & �sa Rosén, 2006. "Equilibrium Incentive Contracts and Efficiency Wages," Journal of the European Economic Association, MIT Press, vol. 4(6), pages 1165-1192, December.
  85. Joao Gomes & Amir Yaron & Lu Zhang, 2002. "Asset Pricing Implications of Firms' Financing Constraints," NBER Working Papers 9365, National Bureau of Economic Research, Inc.
  86. Erwan Quintin, 2008. "Contract enforcement and the size of the informal economy," Economic Theory, Springer, vol. 37(3), pages 395-416, December.
  87. Andrew Musau, 2014. "Hyperbolic discount curves: a reply to Ainslie," Theory and Decision, Springer, vol. 76(1), pages 9-30, January.
  88. Brown, Martin & Serra-Garcia, Marta, 2011. "The Threat of Exclusion and Relational Contracting," Discussion Papers in Economics 12287, University of Munich, Department of Economics.
  89. Virginia Olivella, 2012. "Expropriation Risk and Aggregate Productivity with Heterogeneous Firms," 2012 Meeting Papers 985, Society for Economic Dynamics.
  90. Natalia Kovrijnykh, 2008. "Debt Contracts with Short-Term Commitment," 2008 Meeting Papers 558, Society for Economic Dynamics.
  91. Alexander Monge-Naranjo, 2009. "Entrepreneurship and firm heterogeneity with limited enforcement," Annals of Finance, Springer, vol. 5(3), pages 465-494, June.
  92. Kartik Athreya & Ahmet Akyol, 2009. "Credit and self-employment," Working Paper 09-05, Federal Reserve Bank of Richmond.
  93. Eugenio Pinto, 2008. "Firm dynamics with infrequent adjustment and learning," Finance and Economics Discussion Series 2008-14, Board of Governors of the Federal Reserve System (U.S.).
  94. Vicenzo Quadrini & Claudio Michelacci, 2005. "Borrowing From Employees: Wage Dynamics With Financial Constraints," Working Papers wp2005_0501, CEMFI.
  95. Esteban Rossi-Hansberg & Mark L. J. Wright, 2007. "Establishment Size Dynamics in the Aggregate Economy," American Economic Review, American Economic Association, vol. 97(5), pages 1639-1666, December.
  96. Barlevy, Gadi, 2003. "Credit market frictions and the allocation of resources over the business cycle," Journal of Monetary Economics, Elsevier, vol. 50(8), pages 1795-1818, November.
  97. Álvaro Aguirre, 2011. "Contracting Institutions and Economic Growth," Working Papers Central Bank of Chile 643, Central Bank of Chile.
  98. Eugenio Pinto, 2006. "Firm Dynamics with Infrequent Adjustment and Learning," Computing in Economics and Finance 2006 467, Society for Computational Economics.
  99. öZGÜR, Onur, 2011. "A Model of Dynamic Liquidity Contracts," Cahiers de recherche 07-2011, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  100. Cole, Harold L., 2013. "Self-enforcing stochastic monitoring and the separation of claims," Journal of Monetary Economics, Elsevier, vol. 60(6), pages 632-649.
  101. Ralf R. Meisenzahl, 2011. "Verifying the state of financing constraints: evidence from U.S. business credit contracts," Finance and Economics Discussion Series 2011-04, Board of Governors of the Federal Reserve System (U.S.).
  102. D'Erasmo, Pablo, 2006. "Investment and firm dynamics," MPRA Paper 3598, University Library of Munich, Germany, revised Apr 2007.
  103. Hanno Lustig & Chad Syverson & Stijn Van Nieuwerburgh, 2009. "Technological Change and the Growing Inequality in Managerial Compensation," NBER Working Papers 14661, National Bureau of Economic Research, Inc.
  104. Kalina Manova, 2008. "Credit Constraints, Heterogeneous Firms, and International Trade," NBER Working Papers 14531, National Bureau of Economic Research, Inc.
  105. Brückner, Markus, 2010. "Financial determinants of firm dynamics: Evidence from a European panel," Economics Letters, Elsevier, vol. 107(1), pages 63-65, April.
  106. Juan Pablo Medina, 2004. "The Default Rate and Price of Capital in a Costly External Finance Model," Working Papers Central Bank of Chile 297, Central Bank of Chile.
  107. Cristina Arellano & Yan Bai & Jing Zhang, 2007. "Contract Enforcement and Firms'd5 FinancingContract Enforcement and Firms'd5 Financing," Working Papers 573, Research Seminar in International Economics, University of Michigan.
  108. Jianjun Miao & PENGFEI WANG, 2012. "Banking Bubbles and Financial Crisis," Boston University - Department of Economics - Working Papers Series WP2012-010, Boston University - Department of Economics.
  109. Juan Pablo Medina, 2004. "Endogenous Financial Constraints: Persistence and Interest Rate Fluctuations," Working Papers Central Bank of Chile 290, Central Bank of Chile.
  110. Bernardo Morais, 2011. "Should I Stay or Should I Go: Investor Protection, Firm Selection and Aggregate Productivity," 2011 Meeting Papers 878, Society for Economic Dynamics.
  111. Huynh, Kim P. & Petrunia, Robert J., 2010. "Age effects, leverage and firm growth," Journal of Economic Dynamics and Control, Elsevier, vol. 34(5), pages 1003-1013, May.
  112. Karl Walentin & Guido Lorenzoni & Dan Cao, 2013. "Financial Frictions, Investment and Tobin’s q," 2013 Meeting Papers 634, Society for Economic Dynamics.
  113. Thomas Philippon & Yuliy Sannikov, 2007. "Real Options in a Dynamic Agency Model, with Applications to Financial Development, IPOs, and Business Risk," NBER Working Papers 13584, National Bureau of Economic Research, Inc.