Showing 1 - 10 of 198
that empirically plausible degrees of heterogeneity with respect to two important credit market characteristics - namely …
Persistent link: https://www.econbiz.de/10008727289
This paper proposes an explanation of the shifts in the volatility of exchange rate returns that relies on standard present value exchange rate models. Agents are uncertain about the true data generating model and deal with the model uncertainty by making inference on the models and their...
Persistent link: https://www.econbiz.de/10008596599
Using a time-varying parameter vector autoregression (TVP-VAR) with a new sign restriction framework, we study the changing effectiveness of the Bank of Japan’s Quantitative Easing policies over time. We analyse the Zero-Interest Rate Policy from 1999 to 2000, the Quantitative Easing Policy...
Persistent link: https://www.econbiz.de/10010812488
We analyze the transmission of global financial crisis to business cycles in China and India. The pattern of business cycles in emerging Asian economies generally displays a low degree of synchronization with the OECD countries, which is consistent with the decoupling hypothesis. By contrast,...
Persistent link: https://www.econbiz.de/10005013072
Openness for trade can have positive welfare effects in terms of higher growth. But increased openness may also increase uncertainty through a higher volatility of employment. We use regional data from Germany to test whether openness for trade has an impact on volatility. We find a downward...
Persistent link: https://www.econbiz.de/10005406262
This paper adopts a flexible framework to assess both short- and long-run business cycle linkages between six Latin American (LA) countries and the four largest economies in the world (namely the US, the Euro area, Japan and China) over the period 1980:I-2011:IV. The result indicate that within...
Persistent link: https://www.econbiz.de/10010595388
This paper develops a general-equilibrium model of skill-biased technological change that approximates the observed shifts in the shares of wage and non-wage income going to the top decile of U.S. households since 1980. Under realistic assumptions, we find that all agents can benefit from the...
Persistent link: https://www.econbiz.de/10010877730
explore the relationship between these variables, we develop a macroeconomic model with firms that are subject to both credit …
Persistent link: https://www.econbiz.de/10010948812
This paper unveils a new resource for macroeconomic research: a long-run dataset covering disaggregated bank credit for …
Persistent link: https://www.econbiz.de/10010948836
interest-rate rule features virtually no response to the growth of bank credit. However, the welfare loss associated to the …
Persistent link: https://www.econbiz.de/10011265258