Financial crises, firms' innovation and the macroeconomy
Abstract/Contents
- Abstract
- This dissertation analyzes the interaction between financial crises and firms' innovation, its macroeconomic consequences and the implications for economic policy. The first chapter, "The Financing of Ideas and the Great Deviation", studies the macroeconomic impact of financial shocks through their negative effect on intangible capital investment, using a panel dataset of Spanish manufacturing firms. The second chapter, "How Destructive is Innovation?", is co-authored with Chang-Tai Hsieh and Peter J. Klenow. It quantifies the contribution of different innovation channels to aggregate economic growth, matching a growth model to statistical moments on establishment dynamics in the U.S. The final chapter, "Macroprudential Policy with Liquidity Panics", is co-authored with Alonso Villacorta. It shows how financial panics can appear endogenously due to precautionary cash accumulation by firms, and how this changes the optimal macroprudential policy.
Description
| Type of resource | text |
|---|---|
| Form | electronic; electronic resource; remote |
| Extent | 1 online resource. |
| Publication date | 2016 |
| Issuance | monographic |
| Language | English |
Creators/Contributors
| Associated with | Garcia-Macia, Daniel |
|---|---|
| Associated with | Stanford University, Department of Economics. |
| Primary advisor | Klenow, Peter J |
| Primary advisor | Schneider, Martin, (Professor of economics) |
| Thesis advisor | Klenow, Peter J |
| Thesis advisor | Schneider, Martin, (Professor of economics) |
| Thesis advisor | Bloom, Nick, 1973- |
| Thesis advisor | Piazzesi, Monika |
| Advisor | Bloom, Nick, 1973- |
| Advisor | Piazzesi, Monika |
Subjects
| Genre | Theses |
|---|
Bibliographic information
| Statement of responsibility | Daniel Garcia-Macia. |
|---|---|
| Note | Submitted to the Department of Economics. |
| Thesis | Thesis (Ph.D.)--Stanford University, 2016. |
| Location | electronic resource |
Access conditions
- Copyright
- © 2016 by Daniel-Oliver Garcia-Macia
- License
- This work is licensed under a Creative Commons Attribution Non Commercial 3.0 Unported license (CC BY-NC).
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