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This paper formalizes one mechanism through which diversification in the production of research & development across …. As a result, according to the local degree of diversification in research & development, sectoral technological shocks … business cycles and the life cycle of the city: diversification in research & development allows innovations in different …
Persistent link: https://www.econbiz.de/10005113672
We look at business survey data on Italian internationalized firms’ characteristics and performances since the outbreak of the 2008 crisis until 2012. Among Italian firms with 20 employees or more, an increasing share (from 7.1 to 13.2% between 2006 and 2011) owns a foreign productive unit....
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After August 2007 the plumbing system that supplied banks with wholesale funding, the interbank market, failed because toxic assets obstructed the pipes. Banks were forced to squeeze liquidity in a �lemons market� or to ask for liquidity �on tap� from central banks. This...
Persistent link: https://www.econbiz.de/10009320176
In this paper, after discussing the theoretical underpinnings of unconventional monetary policy measures, we review the existing empirical evidence on their effectiveness, focusing on those adopted by the European Central Bank and by the Federal Reserve. These measures operate in two ways:...
Persistent link: https://www.econbiz.de/10009320180