Farzad Saidi

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This paper proposes that idiosyncratic firm-level shocks can explain an important part of aggregate movements and provide a microfoundation for aggregate shocks. Existing research has focused on using aggregate shocks to explain business cycles, arguing that individual firm shocks average out in the aggregate. I show that this argument breaks down if the(More)
A number of papers have recently argued that men and women have different attitudes and behavioural responses to competition. Laboratory experiments suggest that these gender differences are very large but it is important to be able to map these findings into real world differences. In this paper, we use performance pay as an indicator of competition in the(More)
We examine a new intervention to overcome gender biases in hiring, promotion, and job assignments: an “evaluation nudge,” in which people are evaluated jointly rather than separately regarding their future performance. Evaluators are more likely to focus on individual performance in joint than in separate evaluation and on group stereotypes in separate than(More)
We provide evidence that a significant fraction of the returns to merger announcements reflects target revaluation rather than the causal effect of the merger. In a sample of unsuccessful merger bids from 1980 to 2008, we find that targets of cash offers are revalued by 15% after deal failure, which is a sizeable portion of the average announcement effect(More)
Cashand stock-financed takeover bids induce strikingly different target revaluations. We exploit detailed data on unsuccessful takeover bids between 1980 and 2008, and we show that targets of cash offers are revalued on average by þ15% after deal failure, whereas stock targets return to their pre-announcement levels. The differences in revaluation do not(More)
Exploiting the exogenous and regional nature of the Great East Japan Earthquake of 2011, this paper provides a systematic quantification of the role of input-output linkages as a mechanism for the propagation and amplification of shocks. We document that the disruption caused by the earthquake and its aftermaths propagated upstream and downstream supply(More)
This paper defines and analyzes a “sparse max” operator, which generalizes the traditional max operator used everywhere in economics. The agent builds (as economists do) a simplified model of the world which is sparse, considering only the variables of first-order importance. His stylized model and his resulting choices both derive from constrained(More)
We analyze the implications for monetary policy when deficient aggregate demand can cause a permanent loss in potential output, a phenomenon termed as output hysteresis. We incorporate Schumpeterian endogenous growth into a business cycle model with nominal rigidities. In the model, incomplete stabilization of a temporary shortfall in demand reduces the(More)
  • Juanita Gonzalez-Uribe, Michael Leatherbee, +8 authors Rui Silva
  • 2015
Do business accelerators add value? If so, how? We investigate these questions by focusing on Start-Up Chile, an accelerator sponsored by the Chilean government. Using a regression discontinuity design, we show the mentoring services of accelerators can significantly increase new-venture performance by improving the managerial capital of participants. We(More)
This paper analyzes the effect of a large debt relief program on investment, productivity and the subsequent financial access of beneficiary households. We carry out a survey of 2,897 households affected by the Indian Debt Waiver and Debt Relief Program for Small and Marginal Farmers –one of the largest debt relief programs in history. Using a Regression(More)