The Cost of Recessions Revisited: a Reverse-Liquidationist View

By Ricardo J. Caballero, M. Hammour. 2005

185 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/c28cd1e9d0f24d7f7a0b9d5ab4716383527287a0

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In Economics and Econometrics

Citations in the corpus

Organization Capital and the Cross-Section of Expected Returns (2013, unknown): “In support of these ideas, Caballero and Hammour (2001; 2005), Maksimovic and Phillips (2001), and Eisfeldt and Rampini (2006) point out that restructuring and capital reallocation actually tend to be positively correlated with aggregate economic activity.8 We also argue that investors will place a…”
Reallocation in the Great Recession: Cleansing or Not? (2016, unknown): “…cleansing in the absence of financial constraints, but the cleansing effect can 5 Blanchard and Diamond ð1990Þ, Davis and Haltiwanger ð1990, 1999Þ, and Caballero and Hammour ð2005Þ use vector autoregression analysis to conduct a more nuanced and sophisticated analysis of the behavior of job…”
Recessions and the Costs of Job Loss (2011, unknown): “…rents include fairness norms and concerns about pay equity (Akerlof and Yellen 1990), high pay as a device to deter shirking (Bulow and Summers 1986), the appropriation of quasi-rents generated by sunk investments (Grout 1984, Caballero and Hammour 2005), and worker sharing of product market rents.”
The Dynamics of Employment Growth: New Evidence from 18 Countries (2014, methodology): “An early contribution was made by Caballero and Hammour (1994) who explain the cyclical behaviour of job creation and destruction and in particular the stronger sensitivity of job destruction by a vintage model predicting creative destruction during downturns, i.”
Growth Dynamics: The Myth of Economic Recovery (2005, unknown): “However, Caballero and Hammour (2005) find evidence that recessions reduce rather than increase the cumulative amount of restructuring in U.S. manufacturing firms.”