Showing 1 - 10 of 21
We live in a service economy, but the extent of development of service employment differs across developed countries. This paper assesses the role of structural factors and institutions in explaining the common patterns and main di?erences in the recent expansion of service employment in OECD...
Persistent link: https://www.econbiz.de/10005222345
This Occasional Paper reviews financial stability challenges in countries preparing for EU membership with a candidate country status, i.e. Croatia (planned to accede to the EU on 1 July 2013), Iceland, the former Yugoslav Republic of Macedonia, Montenegro and Turkey. It follows a...
Persistent link: https://www.econbiz.de/10010688326
affect the firms' demand on foreign markets to instrument yearly variations in exports. We use alternatively as instruments …
Persistent link: https://www.econbiz.de/10011067217
This Occasional Paper reviews financial stability challenges in countries preparing for EU membership with a candidate country status, i.e. Croatia (planned to accede to the EU on 1 July 2013), Iceland, the former Yugoslav Republic of Macedonia, Montenegro and Turkey. It follows a...
Persistent link: https://www.econbiz.de/10010693511
We develop and estimate a stylized micro-founded model of the US economy. Next we compute the parameters of a simple interest rate policy rule that maximizes the unconditional mean of utility. We show that such a welfare-based rule lies close to the Taylor efficiency frontier. A counterfactual...
Persistent link: https://www.econbiz.de/10005025577
intermediate position, whereas in Italy competition declined significantly over time. The French, Japanese and UK loan markets were …This paper is the first that applies a new measure of competition, the Boone indicator, to the banking industry. This … approach is able to measure competition of bank market segments, such as the loan market, whereas many well-known measures of …
Persistent link: https://www.econbiz.de/10005344896
policy perspective, it highlights the importance of structural reforms that help enhance competition in this sector. This …
Persistent link: https://www.econbiz.de/10009327809
This paper analyses the impact of loan market competition on the interest rates applied by euro area banks to loans and … deposits during the 1994-2004 period, using a novel measure of competition called the Boone indicator. We find evidence that … stronger competition implies significantly lower spreads between bank and market interest rates for most loan market products …
Persistent link: https://www.econbiz.de/10004969191
In this paper we explore the link between the intensity of product market competition and inflation rates across EU … over time and as alternative proxies of competition we use the level of mark-up, profit margin, the profit rate and a … survey based “intensity of competition” variable. Results for both aggregate and sectoral panels show that the extent of …
Persistent link: https://www.econbiz.de/10005530819
competition intensifies, prospecting for loans becomes more important and banks' internal agency problem worsens. In response to … more competition, banks lower lending standards, may choose to disregard soft and use only hard information in their credit …
Persistent link: https://www.econbiz.de/10010686757