Chu-Ping C. Vijverberg

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According to the financial accelerator model, a small monetary or other shock is amplified through credit market restrictions on small firms, and swings in balance sheets over the business cycle cause swings in small firms’ spending. This paper incorporates these notions in an empirical model of firm behavior. We use unit transaction cost of debt and(More)
Public Infrastructure as a Determinant of Intertemporal and Interregional Productive Performance in China This paper focuses on the question whether public infrastructure capital matters for labor productivity in China, both over time and across regions. It finds that public infrastructure is a significant determinant of variations in labor productivity(More)
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