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  1. Collateral requirements in central bank lending
    Author: Du, Chuan
    Published: June 2022
    Publisher:  Bank of England, London

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    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 443
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    No inter-library loan
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Staff working paper / Bank of England ; no. 987
    Subjects: Collateral; leverage; credit conditions; monetary policy; general equilibrium
    Scope: 1 Online-Ressource (circa 58 Seiten), Illustrationen
  2. The (heterogenous) economic effects of private equity buyouts
    Author: Davis, Steven J.; Haltiwanger, John C.; Handley, Kyle; Lerner, Joshua; Lipsius, Ben; Miranda, Javier
    Published: [18. März 2022]
    Publisher:  Halle Institute for Economic Research (IWH) - Member of the Leibniz Association, Halle (Saale), Germany

    The effects of private equity buyouts on employment, productivity, and job reallocation vary tremendously with macroeconomic and credit conditions, across private equity groups, and by type of buyout. We reach this conclusion by examining the most... more

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    Verlag (kostenfrei)

    Location:
    Leibniz-Institut für Wirtschaftsforschung Halle, Bibliothek
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    Location:
    Universitäts- und Landesbibliothek Sachsen-Anhalt / Zentrale
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    eBook
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 13
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    The effects of private equity buyouts on employment, productivity, and job reallocation vary tremendously with macroeconomic and credit conditions, across private equity groups, and by type of buyout. We reach this conclusion by examining the most extensive database of U.S. buyouts ever compiled, encompassing thousands of buyout targets from 1980 to 2013 and millions of control firms. Employment shrinks 13% over two years after buyouts of publicly listed firms - on average, and relative to control firms - but expands 13% after buyouts of privately held firms. Post-buyout productivity gains at target firms are large on average and much larger yet for deals executed amidst tight credit conditions. A post-buyout tightening of credit conditions or slowing of GDP growth curtails employment growth and intra-firm job reallocation at target firms. We also show that buyout effects differ across the private equity groups that sponsor buyouts, and these differences persist over time at the group level. Rapid upscaling in deal flow at the group level brings lower employment growth at target firms.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/251587
    Series: IWH discussion papers ; 2022, no. 10 (March 2022)
    Subjects: Private Equity; Übernahme; Wirkungsanalyse; Beschäftigungseffekt; USA; administrative data; business cycle; credit conditions; employment; private equity; productivity
    Scope: 1 Online-Ressource (III, 90 Seiten, 3,58 MB), Diagramme
  3. The (Heterogenous) Economic Effects of Private Equity Buyouts
    Author: Davis, Steven J.; Haltiwanger, John C.; Handley, Kyle; Lerner, Joshua; Lipsius, Ben; Miranda, Javier
    Published: 2022
    Publisher:  Leibniz-Institut für Wirtschaftsforschung Halle - IWH, Halle (Saale)