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The paper analyzes a very stylized model of crises and demonstrates how the degree of strategic complementarity in the actions of investors is an important determinant of fragility. It is shown how the balance sheet composition of a financial intermediary, parameters of the information structure...
Persistent link: https://www.econbiz.de/10009147398
implications about banking regulation (solvency and liquidity ratios) and interventions of the Lender of Last Resort as well as on …
Persistent link: https://www.econbiz.de/10005791912
are more likely, and for high book-to-market firms, suggesting that "green" expenditures crowd out growth …
Persistent link: https://www.econbiz.de/10005662265
We assess the cost of different types of terrorist attacks on the growth of output and of its components. Private Consumption and Investment are significantly and negatively affected by all terror indicators, and the largest impact is respectively associated with the number of victims or the...
Persistent link: https://www.econbiz.de/10008680754
This paper studies the generation and the transmission of international business cycles in a multi-country model with production and consumption interdependencies. Two sources of disturbances are considered and three channels for propagation of shocks are compared. Simulations are performed for...
Persistent link: https://www.econbiz.de/10005666585
and expenditure and management responsibilities of different levels of government. While the creation of federal districts … evaluating the response of regional government’s expenditures to changes in the size of the GRP (gross regional product) and to … changes in the region’s tax collections. While the results related to regional shares of tax revenues and expenditures are …
Persistent link: https://www.econbiz.de/10011084505
. We investigate theoretically and empirically how bank organization shapes banking competition. Our theoretical model … organizational structure and technology of rival banks in the vicinity influence local banking competition. …
Persistent link: https://www.econbiz.de/10005136523
We develop a dynamic stochastic general equilibrium model with an heterogeneous banking sector. We introduce endogenous … market. Our aim is to understand the interactions between the banking sector and the rest of the economy, as well as the …
Persistent link: https://www.econbiz.de/10005067613
likely to add a bank, especially when located in more competitive local banking markets. Deregulation and intensifying … competition in the banking sector during the 1970s spurred banks to supply credit through multilateral arrangements. Firms that …
Persistent link: https://www.econbiz.de/10011084071
expansion induces the median voter to provide political support for banking development as this new electorate has lower … broader voting franchise is more conducive towards the banking sector, consistent with Perotti and von Thadden (2006). Our …
Persistent link: https://www.econbiz.de/10011084251