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Asensio, Angel - HAL - 2009

The paper states that, although Post Keynesian interest rules may be feasible and sustainable in favourable circumstances, there is a shared difficulty as for the setting of long-term interest rates in a context of strong uncertainty and shifting liquidity preference. According to Keynes theory...

Persistent link: https://www.econbiz.de/10008794750

Firm Entry and Employment Dynamics in the Great Recession

Siemer, Michael - Federal Reserve Board (Board of Governors of the … - 2014

The 2007-2009 recession is characterized by: a large drop in employment, an unprecedented decline in firm entry, and a slow recovery. Using confidential firm-level data, I show that financial constraints reduced employment growth in small relative to large firms by 4.8 to 10.5 percentage points....

Persistent link: https://www.econbiz.de/10010886223

Loan Sales and Bank Liquidity Risk Management: Evidence from a U.S. Credit Register

Irani, Rustom M.; Meisenzahl, Ralf R. - Federal Reserve Board (Board of Governors of the … - 2015

We examine the impact of banks' liquidity risk management on secondary loan sales. We track the dynamics of bank loan share ownership in the secondary market using data from the Shared National Credit Program, a credit register of syndicated bank loans administered by U.S. regulators. We analyze...

Persistent link: https://www.econbiz.de/10011273699

Mini-perm Structures in PPP Contracts: Risks and Opportunities

Dupas, Nicolas; Marty, Frédéric; Voisin, Arnaud - HAL - 2011

Prior to the 2008 financial crisis, the economic model of PPPs benefited from a very favorable environment in terms of credit availability and cost. The high level of liquidity in financial markets allowed rising abundant and not expensive external resources, because of both the low level of...

Persistent link: https://www.econbiz.de/10010541078

Continuous time regime switching model applied to foreign exchange rate.

Goutte, Stéphane; Zou, Benteng - HAL - 2012

Modified Cox-Ingersoll-Ross model is employed, combining with Hamilton (1989) type Markov regime switching framework, to study foreign exchange rates, where all parameter values depend on the value of a continuous time Markov chain. Basing on real data of some foreign exchange rates, the...

Persistent link: https://www.econbiz.de/10009422114

The 2007-2008 financial crisis: Is there evidence of disaster myopia?

Cornand, Camille; Gimet, Céline - HAL - 2012

The disaster myopia hypothesis is a theoretical argument that may explain why crises are a recurrent event. Under very optimistic circumstances, investors disregard any relevant information concerning the increasing degree of risk. Agents' propensity to underestimate the probability of adverse...

Persistent link: https://www.econbiz.de/10009278316

A multi-horizon scale for volatility

Subbotin, Alexander - HAL - 2008

We decompose volatility of a stock market index both in time and scale using wavelet filters and design a probabilistic indicator for valatilities, analogous to the Richter scale in geophysics. The peak-over-threshold method is used to fit the generalized Pareto probability distribution for the...

Persistent link: https://www.econbiz.de/10010750636

La crise argentine 1976-2001 : lectures institutionnalistes et régulationnistes

Boyer, Robert; César, Julio Neffa - HAL - 2007

complete opening to world trade and financial globalization. The shakiness of major institutional compromises and the lack of … policy tools to respond to the vagaries of the world economy explain the 1998 turning point from growth to depression. The … transformed by the expected medium term rise of commodities prices at the world level. …

Persistent link: https://www.econbiz.de/10010738973

Coping with the Recent Financial Crisis, did Inflation Targeting Make Any Difference?

Azangue, Armand Fouejieu - HAL - 2012

The effects of the 2008/2009 financial crisis went largely among the financial markets and hit the real economy, generating one of the greatest global economic shocks. The aim of this study is to investigate whether inflation targeting has made a difference during this crisis. We first present...

Persistent link: https://www.econbiz.de/10010663554

Convergent trends in aggregate and firm volatility

Pollack, Joseph Richard - HAL - 2013

This article unearths the determinants of the volatility of aggregate and firm-level production proxied by output and turnover respectively. This article re-visits Comin and Mulani's Note on the diverging trends between aggregate and firm volatility. Similarly to their conclusions, I establish...

Persistent link: https://www.econbiz.de/10010820876