Terranova, Roberta: Essays on the role of expectation dynamics, social influence and technology diffusion on efficiency, growth and inequality. 2021
Inhalt
- Introduction
- Does Investor Sentiment Drive M&As?
- Introduction
- Literature review
- Sentiment measure
- Data
- Investor sentiment and M&As
- Effect of investor sentiment on the announcement return
- Conclusion
- Appendix Data
- Appendix Tables and figures
- Endogenous Beliefs and Social Influence
- Introduction
- The Model
- Endogenous beliefs and switching mechanism
- Sentiment dynamics
- Social influence as a coordination device and its impact on production and welfare
- Conclusions
- Appendix Derivation of formulas
- Neutral belief benchmark
- Expected productivity
- Profits
- Expected profits of pessimistic and optimistic islands
- The one-dimensional dynamics from discrete to continuous time
- Welfare
- Expected output and welfare
- Appendix Proofs
- Proof of proposition 1
- Proof of Proposition 2
- Proof of Proposition 3
- Proof of Proposition 4
- Result on welfare
- Appendix Robustness
- Concentration, Stagnation and Inequality
- Introduction
- Model setup
- Simulation results
- Calibration and initialization
- Empirical validation
- Economic analysis
- Policy experiments
- Can concentration be good for the economy?
- Conclusion
- Appendix Accounting and balance sheets
- Appendix Parameter setting
- Bibliography