Showing 1 - 10 of 164
Using European Commission real-time data, we show that potential output (PO) estimates were substantially and persistently revised downwards after the Great Recession. We decompose PO revisions into revisions of the capital stock, trend labor, and trend total-factor productivity (TFP)....
Persistent link: https://www.econbiz.de/10012866365
econometrically estimated in continuous time with Euro/Dollar data and examined for the possible presence of chaotic motion. Our …
Persistent link: https://www.econbiz.de/10010274880
bond markets and improved economic sentiment, as reflected in higher equity prices. In contrast, passive euro liquidity …
Persistent link: https://www.econbiz.de/10012892183
This paper analyses persistence and non-linearities in quarterly and monthly US Treasury 10-year bond yields over the period 1962-2021 using two different fractional integration approaches including Chebyshev polynomials and Fourier functions respectively. The results for both quarterly and...
Persistent link: https://www.econbiz.de/10013306037
This paper documents that an appreciation of the U.S. dollar is associated with a reduction in the supply of commercial and industrial loans by U.S. banks. An increase in the broad dollar index by 2.5 points (one standard deviation) reduces U.S. banks’ corporate loan originations by 10...
Persistent link: https://www.econbiz.de/10012892284
Betting markets have been frequently used as a natural laboratory to test the efficient market hypothesis and to obtain insights especially for financial markets. We add to this literature in analyzing the velocity and accuracy in which market expectations adapt to an exogenous shock: the...
Persistent link: https://www.econbiz.de/10012823156
In the current debate on the reasons and implications of the Greek and Irish euro crisis, the intra-European current … imbalances since the euro introduction and thereby the current European debt crisis. Based on this finding we argue that an …
Persistent link: https://www.econbiz.de/10010275023
This paper shows that monetary policy and prudential policies interact. U.S. banks issue more commercial and industrial loans to emerging market borrowers when U.S. monetary policy eases. The effect is less pronounced for banks that are more constrained through the U.S. bank stress tests,...
Persistent link: https://www.econbiz.de/10012858696
This paper studies the secular increase in U.S. household debt and its relation to growing income inequality and financial fragility. We exploit a new household-level dataset that covers the joint distributions of debt, income, and wealth in the United States over the past seven decades. The...
Persistent link: https://www.econbiz.de/10012834359
We survey a representative sample of US households to study how exposure to the COVID-19 stock market crash affects expectations and planned behavior. Wealth shocks are associated with upward adjustments of expectations about retirement age, desired working hours, and household debt, but have...
Persistent link: https://www.econbiz.de/10012835653