A
Andrei Shleifer
Researcher at Harvard University
Publications - 519
Citations - 286543
Andrei Shleifer is an academic researcher from Harvard University. The author has contributed to research in topics: Government & Shareholder. The author has an hindex of 171, co-authored 514 publications receiving 271880 citations. Previous affiliations of Andrei Shleifer include National Bureau of Economic Research & University of Chicago.
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Costs of Financial Distress, Delayed Calls of Convertible Bonds, and the Role of Investment Banks
Dwight M. Jaffee,Andrei Shleifer +1 more
TL;DR: In this paper, the authors show that the observed delays can be plausibly explained in terms of costs to shareholders of a failed conversion and the ensuing financial distress, and explain the common use of investment banks to underwrite these transactions since the banks can eliminate the self-fulfilling bad outcome.
ReportDOI
The Efficiency of Investment in the Presence of Aggregate Demand Spillovers
Andrei Shleifer,Robert W. Vishny +1 more
TL;DR: In the presence of aggregate demand spillovers, an imperfectly competitive form's profit is positively related to aggregate income, which in turn rises with profits of all firms in the economy as mentioned in this paper.
Posted Content
The Size and Incidence of the Losses from Noise Trading
J. Bradford DeLong,J. Bradford DeLong,J. Bradford DeLong,Andrei Shleifer,Andrei Shleifer,Lawrence H. Summers,Lawrence H. Summers,Robert Waldmann,Robert Waldmann +8 more
TL;DR: This article assess the welfare effects and incidence of such noise trading using an overlapping-generations model that gives investors short horizons, and find that the additional risk generated by noise trading can reduce the capital stock and consumption of the economy, and part of that cost may be borne by rational investors.
Posted Content
Agency Problems and Dividend Policies Around the World
TL;DR: In this paper, the authors address the question of why firms pay dividends, the so-called "dividend puzzle," from the agency perspective, and outline two agency models of dividends.
Journal ArticleDOI
Investment Hangover and the Great Recession
TL;DR: In this paper, the authors present a model of investment hangover motivated by the Great Recession, where overbuilding of durable capital such as housing requires a reallocation of productive resources to other sectors, which is facilitated by a reduction in the interest rate.