scholarly journals Wage Regimes, Accumulation and Finance Constraints: Keynesian Unemployment Revisited

2003 ◽  
Author(s):  
Francesco Saraceno
Keyword(s):  
Finance Constraints ◽  
Keynesian Unemployment

Value For Money

2010 ◽  
pp. 295-309
Author(s):  
Adrian J. Bridge ◽  
Robert Lee Kong Tiong ◽  
Shou Qing Wang
Keyword(s):  
Developed Countries ◽  
Public Private Partnerships ◽  
Value For Money ◽  
Exchange Relationship ◽  
Market Structures ◽  
Contractual Arrangement ◽  
Decision Points ◽  
Finance Constraints ◽  
Theoretical Pluralism ◽  
Buying In

Australia is just one of many developed countries facing the challenge of delivering value for money in the provision of a substantial infrastructure pipeline amidst severe construction and private finance constraints. To help address this challenge, this chapter focuses on developing an understanding of the determinants of value at key procurement decision points that range from the make-or-buy decision, to buying in the context of market structures, including the exchange relationship and contractual arrangement decision. This understanding is based on theoretical pluralism and illustrated by research in the field of construction and maintenance, and in public-private partnerships.

Bankruptcy, Finance Constraints, and the Value of the Firm

2011 ◽  
Vol 3 (2) ◽  
pp. 1-37 ◽  
Author(s):  
Douglas Gale ◽  
Piero Gottardi
Keyword(s):  
Financial Crises ◽  
Asset Prices ◽  
Investment Decisions ◽  
Alternative Interventions ◽  
Fire Sales ◽  
Market Incompleteness ◽  
Competitive Model ◽  
Finance Constraints ◽  
States Of Nature

We study a competitive model in which market incompleteness implies that debt-financed firms may default in some states of nature, and default may lead to the sale of the firms' assets at fire sale prices when a finance constraint is binding. The anticipation of such “losses” alone may distort firms' investment decisions. We characterize the conditions under which fire sales occur in equilibrium, and their consequences on firms' investment decisions. We also show that endogenous financial crises may arise in this environment, with asset prices collapsing as a result of pure self-fulfilling beliefs. Finally, we examine alternative interventions to restore the efficiency of equilibria. (JEL D83, G31, G32, G33)

Sign in / Sign up

Export Citation Format

Share Document