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Can Financial Infrastructures Foster Economic Development?.
Amable, B.; Chatelain, J.-B. - Banque de France - 2001
In this paper, financial infrastructures increase the efficiency of the banking sector: they decrease the market power …
Persistent link: https://www.econbiz.de/10005487052
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Optimal Capacity in the Banking Sector and Economic Growth.
Amable, B.; Chatelain, J.-B.; De Bandt, O. - Banque de France - 2001
banking system. For that purpose, we consider an overlapping generation model with endogenous growth. There is horizontal … differentiation and imperfect competition in the banking sector. Macroeconomic shocks affect the return on capital and, together with … the expectations of depositors, condition the stability of the banking sector. We specify to what extent deposit insurance …
Persistent link: https://www.econbiz.de/10005036182
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Optimal Capacity in the Banking Sector and Economic Growth.
Amable, B.; Chatelain, J.-B.; De Bandt, O. - Banque de France - 2001
banking system. For that purpose, we consider an overlapping generation model with endogenous growth. …
Persistent link: https://www.econbiz.de/10005487051
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The international transmission of house price shocks.
de Bandt, O.; Barhoumi, K.; Bruneau, C. - Banque de France - 2010
In order to assess transmission mechanisms between global and domestic house prices, and possibly contagion effects, we use a large database of macroeconomic variables for OECD countries. We extract common factors to summarize the comovements of the variables and include them in stationary FAVAR...
Persistent link: https://www.econbiz.de/10008503206
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Lumpy Price Adjustments: A Microeconometric Analysis.
Dhyne, E.; Fuss, C.; Pesaran, H.; Sevestre, P. - Banque de France - 2007
This paper presents a simple model of state-dependent pricing that allows identification of the relative importance of the degree of price rigidity that is inherent to the price setting mechanism (intrinsic) and that which is due to the price's driving variables (extrinsic). Using two data sets...
Persistent link: https://www.econbiz.de/10004998835
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Investment, the Cost of Capital and Monetary Policy in the Nineties in France: A Panel Data Investigation.
Chatelain, J-B.; Tiomo, A. - Banque de France - 2002
Using a large panel of about 6,946 French manufacturing firms, this paper investigates the effect of monetary policy from 1990 to 1999 on investment through the cost of capital and the cash-flow channels. We compare several specifications of the neo-classical demand for capital, taking into...
Persistent link: https://www.econbiz.de/10005056500
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Macroeconomic Fluctuations and Corporate Financial Fragility
Bruneau, C.; de Bandt, O.; El Amri, W. - Banque de France - 2011
Using a large sample of accounting data for non-financial companies in France, this paper studies the interactions between macroeconomic shocks and companies' financial fragility. We consider links in both directions, namely whether firms' bankruptcies are affected by macroeconomic variables,...
Persistent link: https://www.econbiz.de/10005036172
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Pitfalls in Investment Euler Equations.
Chatelain, J.-B.; Teurlai, J.-C. - Banque de France - 2001
This paper investigates three pitfalls concerning the test of the Euler equation facing quadratic adjustment costs and perfect capital markets on a large balanced panel data of 4025 french firms. First, the quadratic parameterization of adjustment costs is too restrictive, and power series...
Persistent link: https://www.econbiz.de/10005036200
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Pitfalls in Investment Euler Equations.
Chatelain, J.-B.; Teurlai, J.-C. - Banque de France - 2001
This paper investigates three pitfalls concerning the test of the Euler equation facing quadratic adjustment costs and perfect capital markets on a large balanced panel data of 4025 french firms. First, the quadratic parameterization of adjustment costs is too restrictive, and power series...
Persistent link: https://www.econbiz.de/10005487054
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Financing SMEs in Europe
Balling, Morten (ed.); Bernet, Beat (ed.); Gnan, Ernest (ed.) - Conference on "Financing SMEs in Europe" <2008, Paris>; … - 2009
potential and, in particular when it comes to lack of risk capital, their innovation and R&D activity. Against this background … bank credit for SMEs, the consequences of Basel II on credit risk analysis and SMEs' possible strategic replies were …
Persistent link: https://www.econbiz.de/10011705468