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The Debt-Inflation Channel of the German Hyperinflation
Brunnermeier, Markus Konrad; Correia, Sergio A.; Luck, … - National Bureau of Economic Research - 2023
inflation experienced a larger decline in interest expenses, a relative increase in their equity values, and higher employment …
Persistent link: https://www.econbiz.de/10014322686
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Judging Banks' Risk by the Profits They Report
Meiselman, Ben S.; Nagel, Stefan; Purnanandam, Amiyatosh - National Bureau of Economic Research - 2023
In competitive capital markets, risky debt claims that offer high yields in good times have high systematic risk exposure in bad times. We apply this idea to bank risk measurement. We find that banks with high accounting return on equity (ROE) prior to a crisis have higher systematic tail risk...
Persistent link: https://www.econbiz.de/10014337867
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China's Financial System and Economy : A Review
He, Zhiguo; Wei, Wei - National Bureau of Economic Research - 2022
China's financial system has been integral to its spectacular economic growth over the past 40 years. We review the recent literature on China's financial system and its connections to the Chinese economy based on the categories of Aggregate Financing to the Real Economy (AFRE), a broad measure...
Persistent link: https://www.econbiz.de/10013361979
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Creative Destruction? Impact of E-Commerce on the Retail Sector
Chava, Sudheer; Oettl, Alexander; Singh, Manpreet; … - National Bureau of Economic Research - 2022
(employment) at proximate stores decrease by 4% (2.1%). Exits, especially of young and small stores, increase, and entry decreases …
Persistent link: https://www.econbiz.de/10013210105
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Do Double Majors Face Less Risk? : An Analysis of Human Capital Diversification
Hanks, Andrew S.; Jiang, Shengjun; Qian, Xuechao; Wang, Bo - National Bureau of Economic Research - 2024
We study how human capital diversification, in the form of double majoring, affects the response of earnings to labor market shocks. Double majors experience substantial protection against earnings shocks, of 56%. This finding holds across different model specifications and data sets....
Persistent link: https://www.econbiz.de/10014468295
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The Outlook for Women's Employment and Labor Force Participation
Albanesi, Stefania - National Bureau of Economic Research - 2023
Employment and participation rates for US prime age women rose steadily during the second half of the 20th century. In … the last 30 years, however, those rates stagnated, even as employment and participation rates for women in other … barriers, such as limited investment in family policies, that may be holding back employment among American women today. The …
Persistent link: https://www.econbiz.de/10014437047
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A general approach to integrated risk management with skewed, fat-tailed risks
Rosenberg, Joshua V. (contributor);  … - 2004 - [Elektronische Ressource]
The goal of integrated risk management in a financial institution is to measure and manage risk and capital across a range of diverse business activities. This requires an approach for aggregating risk types (market, credit, and operational) whose distributional shapes vary considerably. In this...
Persistent link: https://www.econbiz.de/10002101503
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Racial Protests and Credit Access
Garcia, Raffi E.; Ortega, Alberto - National Bureau of Economic Research - 2024
We examine the impact of local racial demonstrations, such as Black Lives Matter (BLM) protests, and the subsequent racial justice movement following the death of George Floyd on racial disparities in Paycheck Protection Program loan disbursements to small businesses. Using...
Persistent link: https://www.econbiz.de/10014544755
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Is the Decline in the Number of Community Banks Detrimental to Community Economic Development?
Minton, Bernadette A.; Taboada, Alvaro G.; Williamson, Rohan - National Bureau of Economic Research - 2024
Our research examines the impact of dwindling community bank numbers on community investment and economic development. Initially, we confirm the vital role of community banks' small business lending in local development. Contrary to popular belief, we find that a decrease in community banks...
Persistent link: https://www.econbiz.de/10014544798
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Data and Welfare in Credit Markets
Jansen, Mark; Nagel, Fabian; Yannelis, Constantine; … - National Bureau of Economic Research - 2022
We show how to measure the welfare effects arising from increased data availability. When lenders have more data on prospective borrower costs, they can charge prices that are more aligned with these costs. This increases total social welfare, and transfers surplus from borrowers to lenders. We...
Persistent link: https://www.econbiz.de/10013334452