We study and quantify the aggregate implications of the trade of firms in the presence of
financial frictions. In the US, one out of four entrepreneurs purchased their business. In the …

Private information may limit insurance possibilities when two agents get together to pool
idiosyncratic risk. However, if there is capital accumulation, bilateral insurance possibilities …

How to Make Good Business Decisions is a book to assist people with thoughts surrounding
essential aspects of finances and business. Much of the decision-making for people derives …

Abstract The first chapter,“Long-Term Finance and Investment with Frictional Asset Markets”,
develops a theory of investment and maturity choices and studies its implications for the …