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Job Creation under Liquidity Constraints: the Spanish Case

Rendón, Silvio - Banco de España - 2001

This paper shows that liquidity constraints restrict job creation even when labor markets are flexible. In a dynamic model of labor demand, I show that in an environment of imperfect capital and imperfect labor markets, firms use temporary contracts to relax financial constraints. Evidence for...

Persistent link: https://www.econbiz.de/10005155233

Third-country relations in the directive establishing a framework for the recovery and resolution of credit institutions

Nieto, María J. - Banco de España - 2014

This article presents a critical analysis of the principles behind the scope and forms of cooperation between EU Member States and third-country resolution authorities in the context of the 2014 Bank Recovery and Resolution Directive. The article also explores the future responsibilities of the...

Persistent link: https://www.econbiz.de/10010862258

Volatility in Spanish Financial Markets: The Recent Experience.

Ayuso, Juan; Núñez, Soledad; Pérez-Jurado, María - Banco de España - 1996

The potential negative consequences of high financial volatility have been an important concern recently. Although its empirical relevance has not been proved conclusively, clear theoretic and intuitive arguments justify this concern. Many efforts have been conducted, therefore, to determine...

Persistent link: https://www.econbiz.de/10005088314

Firm Investment and Monetary Policy Transmission in the Euro Area

Chatelain, Jean-Bernard; Generale, Andrea; Hernando, Ignacio - Banco de España - 2001

We present a comparable set of results on the monetary transmission channels on firm investment for the four largest … countries of the euro area (Germany, France, Italy and Spain). With particularly rich micro datasets for each country containing … channel. For each of those countries we estimate neo-classical investment relationships, explaining investment by its user …

Persistent link: https://www.econbiz.de/10008520567