Downward Price Inflexibility, Ratchet Effects, and the Inflationary Impact of Import Price Changes: Some Empirical Evidence (Rigidite a la baisse des prix, effets de cliquet et incidence inflationniste des fluctuations des prix a l'importation: quelques tests empiriques) (Inflexibilidad de los precios a la baja, efectos de trinquete e impacto inflacionario de la variacion de los precios de importacion: Algunas pruebas empiricas)

1977 ◽  
Vol 24 (3) ◽  
pp. 569 ◽  
Author(s):  
Morris Goldstein
2019 ◽  
Vol 55 (6) ◽  
pp. 1946-1977 ◽  
Author(s):  
Qie Ellie Yin ◽  
Jay R. Ritter

In the capital structure literature, speed of adjustment (SOA) estimates are similar whether book or market leverage is used. This robustness is suspect, given the survey evidence that firms target their book leverage and the empirical evidence that they don’t issue securities to offset market leverage changes caused by stock price changes. We show that existing market SOA estimates are substantially upward biased due to the passive influence of stock price fluctuations. Controlling for this bias, the SOA estimate is 16% for book leverage and 10% for market leverage, implying that the trade-off theory is less important than previously thought.


2013 ◽  
Vol 103 (3) ◽  
pp. 484-488 ◽  
Author(s):  
James R Hines

This paper evaluates the effect of estate taxes on labor supply. The analysis decomposes the effect of estate taxation into the substitution effect of relative price changes and the two income effects for which the estate tax is responsible. These two income effects arise from tax burdens on those who leave estates plus tax burdens on those who receive them. Despite the double income burden of the estate tax, existing empirical evidence suggests that the net effect of estate taxation on aggregate labor supply is uncertain.


2012 ◽  
Author(s):  
Etienne Gagnon ◽  
Benjamin R. Mandel ◽  
Robert John Vigfusson

World Economy ◽  
2016 ◽  
Vol 40 (7) ◽  
pp. 1314-1344 ◽  
Author(s):  
Eike Berner ◽  
Laura Birg ◽  
Dominik Boddin

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