Add to ORKGI document that publicly-listed firms which are intensive in innovation (intan-gible capital formation) are less able to engage in volatile external financing flows. The effect is primarily due to debt financing; equity financing acts as a partial sub-stitute. Then, I develop a business cycle model with endogenous innovation that incorporates these facts in order to explain the short and medium-run effects of financial shocks. The increases in the cost of debt and venture capital financing during the Great Recession can explain an important part of the ensuing deviation of output from trend, as the reduction in innovation amplifies persistence
This thesis is composed of three research articles investigating changes in firm financing and real ...
This thesis examines the effects of financing frictions on corporate decisions using dynamic models....
Recent empirical studies have shown that innovative firms heavily rely on debt financing. Debt overh...
In the data, large public firms substitute between debt- and equity financing over the business cycl...
We examine the quantitative importance of financial market shocks in accounting for business cycle f...
In this paper we document the cyclical properties of U.S. firms ’ fi-nancial flows. Debt payouts are...
This thesis focuses on the impact of financial markets on innovation. On the one hand, this includes...
This dissertation is motivated by stark trends in innovation activity and external financing use amo...
Schumpeter, a century ago, argued that boom-and-bust cycles are intrinsically related to the functio...
The volatility of US business cycle has declined during the last two decades. During the same period...
We construct and estimate an endogenous growth model with debt and equity financing frictions to und...
This paper examines the sensitivity of firms'' R&D expenditures to being externally financial constr...
The volatility of U.S. business cycles has declined in the last two decades. In this paper we docume...
This paper extends Nolan and Thoenissen (2009), hence NT, model with an explicit financial intermedi...
In this paper we document the cyclical properties of U.S. firms’ financial flows. Equity payouts are...
This thesis is composed of three research articles investigating changes in firm financing and real ...
This thesis examines the effects of financing frictions on corporate decisions using dynamic models....
Recent empirical studies have shown that innovative firms heavily rely on debt financing. Debt overh...
In the data, large public firms substitute between debt- and equity financing over the business cycl...
We examine the quantitative importance of financial market shocks in accounting for business cycle f...
In this paper we document the cyclical properties of U.S. firms ’ fi-nancial flows. Debt payouts are...
This thesis focuses on the impact of financial markets on innovation. On the one hand, this includes...
This dissertation is motivated by stark trends in innovation activity and external financing use amo...
Schumpeter, a century ago, argued that boom-and-bust cycles are intrinsically related to the functio...
The volatility of US business cycle has declined during the last two decades. During the same period...
We construct and estimate an endogenous growth model with debt and equity financing frictions to und...
This paper examines the sensitivity of firms'' R&D expenditures to being externally financial constr...
The volatility of U.S. business cycles has declined in the last two decades. In this paper we docume...
This paper extends Nolan and Thoenissen (2009), hence NT, model with an explicit financial intermedi...
In this paper we document the cyclical properties of U.S. firms’ financial flows. Equity payouts are...
This thesis is composed of three research articles investigating changes in firm financing and real ...
This thesis examines the effects of financing frictions on corporate decisions using dynamic models....
Recent empirical studies have shown that innovative firms heavily rely on debt financing. Debt overh...
