skip to content
Debt, equity and the equity price puzzle Preview this item
ClosePreview this item
Checking...

Debt, equity and the equity price puzzle

Author: Daria Finocchiaro; Caterina Mendicino
Publisher: Stockholm Sveriges Riksbank 2015
Series: Sveriges Riksbank working paper series, 314; Sveriges Riksbank working paper series, Sveriges Riksbank, 314
Edition/Format:   Computer file : English
Summary:
We show that in a model with equity and debt financing, the specfication of the borrowing constraint is crucial to generate empirically plausible responses of macro variables and asset prices to financial shocks. The interaction between financial frictions and labor demand, as in Jermann and Quadrini (2012), is key to the result. A collateral constraint a la Kiyotaki and Moore (1997) augmented with a working capital  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Find a copy online

Links to this item

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Material Type: Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Daria Finocchiaro; Caterina Mendicino
OCLC Number: 934078832
Accession No: (DE-599)GBV845461036
Description: Online-Ressource (11 S.) graph. Darst.
Series Title: Sveriges Riksbank working paper series, 314; Sveriges Riksbank working paper series, Sveriges Riksbank, 314
Responsibility: Daria Finocchiaro and Caterina Mendicino

Abstract:

We show that in a model with equity and debt financing, the specfication of the borrowing constraint is crucial to generate empirically plausible responses of macro variables and asset prices to financial shocks. The interaction between financial frictions and labor demand, as in Jermann and Quadrini (2012), is key to the result. A collateral constraint a la Kiyotaki and Moore (1997) augmented with a working capital assumption generates similar results on impact.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


\n\n

Primary Entity<\/h3>\n
<http:\/\/www.worldcat.org\/oclc\/934078832<\/a>> # Debt, equity and the equity price puzzle<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nbgn:ComputerFile<\/a>, schema:CreativeWork<\/a> ;\u00A0\u00A0\u00A0\nlibrary:oclcnum<\/a> \"934078832<\/span>\" ;\u00A0\u00A0\u00A0\nlibrary:placeOfPublication<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/2871995290#Place\/stockholm<\/a>> ; # Stockholm<\/span>\n\u00A0\u00A0\u00A0\nlibrary:placeOfPublication<\/a> <http:\/\/id.loc.gov\/vocabulary\/countries\/sw<\/a>> ;\u00A0\u00A0\u00A0\nschema:author<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/2871995290#Person\/mendicino_caterina<\/a>> ; # Caterina Mendicino<\/span>\n\u00A0\u00A0\u00A0\nschema:creator<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/2871995290#Person\/finocchiaro_daria<\/a>> ; # Daria Finocchiaro<\/span>\n\u00A0\u00A0\u00A0\nschema:datePublished<\/a> \"2015<\/span>\" ;\u00A0\u00A0\u00A0\nschema:description<\/a> \"We show that in a model with equity and debt financing, the specfication of the borrowing constraint is crucial to generate empirically plausible responses of macro variables and asset prices to financial shocks. The interaction between financial frictions and labor demand, as in Jermann and Quadrini (2012), is key to the result. A collateral constraint a la Kiyotaki and Moore (1997) augmented with a working capital assumption generates similar results on impact.<\/span>\" ;\u00A0\u00A0\u00A0\nschema:exampleOfWork<\/a> <http:\/\/worldcat.org\/entity\/work\/id\/2871995290<\/a>> ;\u00A0\u00A0\u00A0\nschema:inLanguage<\/a> \"en<\/span>\" ;\u00A0\u00A0\u00A0\nschema:isPartOf<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/2871995290#Series\/sveriges_riksbank_working_paper_series<\/a>> ; # Sveriges Riksbank working paper series<\/span>\n\u00A0\u00A0\u00A0\nschema:name<\/a> \"Debt, equity and the equity price puzzle<\/span>\" ;\u00A0\u00A0\u00A0\nschema:productID<\/a> \"934078832<\/span>\" ;\u00A0\u00A0\u00A0\nschema:publication<\/a> <http:\/\/www.worldcat.org\/title\/-\/oclc\/934078832#PublicationEvent\/stockholm_sveriges_riksbank_2015<\/a>> ;\u00A0\u00A0\u00A0\nschema:publisher<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/2871995290#Agent\/sveriges_riksbank<\/a>> ; # Sveriges Riksbank<\/span>\n\u00A0\u00A0\u00A0\nschema:url<\/a> <http:\/\/www.riksbank.se\/Documents\/Rapporter\/Working_papers\/2015\/rap_wp314_151221.pdf<\/a>> ;\u00A0\u00A0\u00A0\nwdrs:describedby<\/a> <http:\/\/www.worldcat.org\/title\/-\/oclc\/934078832<\/a>> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n\n

Related Entities<\/h3>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/2871995290#Agent\/sveriges_riksbank<\/a>> # Sveriges Riksbank<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nbgn:Agent<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Sveriges Riksbank<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/2871995290#Person\/finocchiaro_daria<\/a>> # Daria Finocchiaro<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Person<\/a> ;\u00A0\u00A0\u00A0\nschema:familyName<\/a> \"Finocchiaro<\/span>\" ;\u00A0\u00A0\u00A0\nschema:givenName<\/a> \"Daria<\/span>\" ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Daria Finocchiaro<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/2871995290#Person\/mendicino_caterina<\/a>> # Caterina Mendicino<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Person<\/a> ;\u00A0\u00A0\u00A0\nschema:familyName<\/a> \"Mendicino<\/span>\" ;\u00A0\u00A0\u00A0\nschema:givenName<\/a> \"Caterina<\/span>\" ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Caterina Mendicino<\/span>\" ;\u00A0\u00A0\u00A0\nschema:sameAs<\/a> <http:\/\/d-nb.info\/gnd\/133834328<\/a>> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/2871995290#Place\/stockholm<\/a>> # Stockholm<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Place<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Stockholm<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/2871995290#Series\/sveriges_riksbank_working_paper_series<\/a>> # Sveriges Riksbank working paper series<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nbgn:PublicationSeries<\/a> ;\u00A0\u00A0\u00A0\nschema:hasPart<\/a> <http:\/\/www.worldcat.org\/oclc\/934078832<\/a>> ; # Debt, equity and the equity price puzzle<\/span>\n\u00A0\u00A0\u00A0\nschema:name<\/a> \"Sveriges Riksbank working paper series<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/id.loc.gov\/vocabulary\/countries\/sw<\/a>>\u00A0\u00A0\u00A0\u00A0a \nschema:Place<\/a> ;\u00A0\u00A0\u00A0\ndcterms:identifier<\/a> \"sw<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/www.worldcat.org\/title\/-\/oclc\/934078832<\/a>>\u00A0\u00A0\u00A0\u00A0a \ngenont:InformationResource<\/a>, genont:ContentTypeGenericResource<\/a> ;\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/www.worldcat.org\/oclc\/934078832<\/a>> ; # Debt, equity and the equity price puzzle<\/span>\n\u00A0\u00A0\u00A0\nschema:dateModified<\/a> \"2020-10-13<\/span>\" ;\u00A0\u00A0\u00A0\nvoid:inDataset<\/a> <http:\/\/purl.oclc.org\/dataset\/WorldCat<\/a>> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/www.worldcat.org\/title\/-\/oclc\/934078832#PublicationEvent\/stockholm_sveriges_riksbank_2015<\/a>>\u00A0\u00A0\u00A0\u00A0a \nschema:PublicationEvent<\/a> ;\u00A0\u00A0\u00A0\nschema:location<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/2871995290#Place\/stockholm<\/a>> ; # Stockholm<\/span>\n\u00A0\u00A0\u00A0\nschema:organizer<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/2871995290#Agent\/sveriges_riksbank<\/a>> ; # Sveriges Riksbank<\/span>\n\u00A0\u00A0\u00A0\nschema:startDate<\/a> \"2015<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n\n

Content-negotiable representations<\/p>\n