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Monetary policy, credit and aggregate supply: the evidence from Italy

Fiorentini, R.; Tamborini, R. - EconWPA - 2000

This paper relates to the macroeconomic and monetary policy aspects of the so-called "credit channel" of monetary … financed by bank credit, and then we use it to identify the credit transmission mechanism in data drawn from the Italian … economy. We find evidence that the "credit variables" identified by the model, the overnight rate and a measure of credit risk …

Persistent link: https://www.econbiz.de/10005119371

WOULD ADOPTING THE US DOLLAR HAVE LED TO IMPROVED INFLATION, OUTPUT AND TRADE BALANCES FOR NEW ZEALAND IN THE 1990s?

Hall, Viv; Huang, Angela - EconWPA - 2004

Deterministic simulations with the Reserve Bank of New Zealand’s core FPS model show how New Zealand’s broad macroeconomic environment might have evolved over the 1990s, if a US nominal yield curve and US TWI exchange rate movements under a common currency arrangement had been...

Persistent link: https://www.econbiz.de/10005412749

STOCK MARKET VALUATION IN THE UNITED STATES

BISCIARI, Patrick; DURRE, Alain; NYSSENS, Alain - EconWPA - 2003

This paper gives an overview of some issues related to market aluation, focusing on the developments on the New York equity markets. The 42.4 p.c. fall in the S&P 500 price index between 24 March 2000 - when it reached its all-time high - and 31 December 2002 is situated in a very long term...

Persistent link: https://www.econbiz.de/10005125064

Modelling Possible Impacts of GM Crops on Australian Trade

Stone, Susan; Matysek, Anna; Dolling, Andrew - EconWPA - 2003

This paper looks at the impact on Australia’s trade in crops (non-wheat grains and oilseeds) where GM technology has been introduced. The model includes assumptions about the productivity gains of GM crops, possible consumer responses and regulatory costs for Australia and its major trading...

Persistent link: https://www.econbiz.de/10005407855

Inequality, Growth, and Overtaking

Sugimoto, Yoshiaki - EconWPA - 2003

This research develops a theory about the role of inequality in the overtaking of growth performance across countries. The theory captures two opposing effects of inequality on factor accumulation and suggests that the qualitative change in their combined effect is a prime cause of overtaking....

Persistent link: https://www.econbiz.de/10005407627

Wealth Heterogeneity and Escape from the Poverty-Environment Trap

Ikefuji, Masako; Horii, Ryo - EconWPA - 2005

environmental externality, human capital, and credit constraints. Environmental quality affects labor productivity and thus wealth …

Persistent link: https://www.econbiz.de/10005407670

A Rolling Tide: Changes in the Distribution of Wealth in the U.S., 1989-2001

Kennickell, Arthur B. - EconWPA - 2003

From 1989 to 2001, wealth in real terms increased overall among U.S. families. But characterizing distributional changes is much more complex; it depends on the specific questions asked. For example, there is evidence both from Forbes data on the 400 wealthiest Americans and from the SCF, which...

Persistent link: https://www.econbiz.de/10005407776

Debt-Constraints or Incomplete Markets? A Decomposition of the Wealth and Consumption Inequality in the U.S.

Cordoba, Juan-Carlos - EconWPA - 2004

The large wealth and consumption inequality in the U.S. is usually attributed to two market frictions: debt constraints and incomplete markets. Recent literature has argued that debt constraints are the critical friction while market incompleteness plays only a secondary role. We evaluate the...

Persistent link: https://www.econbiz.de/10005412632

Sectoral Shift, Wealth Distribution, and Development

Yuki, Kazuhiro - EconWPA - 2005

There are two phenomena widely observed when an economy departs from an underdeveloped state and starts rapid economic growth. One is the shift of production, employment, and consumption from the traditional sector to the modern sector, and the other is a large increase in educational levels of...

Persistent link: https://www.econbiz.de/10005550980

Savings, Intergenerational Transfers, and the Distribution of Wealth

Ocampo, Ignacio Ponce; Yuki, Kazuhiro - EconWPA - 2005

This paper investigates the quantitative importance of different savings motives on the distributions of wealth and consumption and aggregate capital accumulation by solving an overlapping generations model with intragenerational heterogeneity. Agents differ in age, ability, earnings shocks, and...

Persistent link: https://www.econbiz.de/10005561081

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