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An inconsistency in using stock flow consistency in modelling the monetary profit paradox

de la Fonteijne, Marcel - Institut für Weltwirtschaft (IfW) - 2014

the phrase of Marx, 'Die Gesamtklasse der Kapitalisten kann nichts aus der Zirkulation herausziehen, was nicht vorher …

Persistent link: https://www.econbiz.de/10010956050

The paradox of monetary profits: an obstacle to understanding financial and economic Crisis?

Bruun, Charlotte; Heyn-Johnsen, Carsten - Institut für Weltwirtschaft (IfW) - 2009

Marx and Keynes tried to solve the problem by addressing current transaction flows, which is also the approach taken by … Marx. Capitalists as a whole can at most get from workers, what they already paid out in wages. Marx did not solve this … problem, and neither did Keynes, who had to face the problem in “The General Theory”. A consequential logical conclusion to …

Persistent link: https://www.econbiz.de/10008479049

Germany's Fiscal Policy Stance

Siebert, Horst - Institut für Weltwirtschaft (IfW) - 2004

This paper analyzes Germany’s fiscal policy position. Half of GDP passes through the hands of government, a high debt to GDP ratio limits the maneuvering, and the revenue sharing mechanism prevents a competitive federalism. Most importantly for the future, the federal finance minister has to...

Persistent link: https://www.econbiz.de/10005700610

Securitization, housing market and banking sector behavior in a stock-flow consistent model

Fontana, Olimpia; Godin, Antoine - Institut für Weltwirtschaft (IfW) - 2013

This paper focuses on the different balance sheet management behavior of private banks and worker households, when assets are traded in the market. The authors take into consideration the securitization process, through which mortgage loans to households are converted into tradable securities...

Persistent link: https://www.econbiz.de/10010956133

Milne, Alistair - Institut für Weltwirtschaft (IfW) - 2012

A fundamental cause of the global financial crisis was excessive creation of short-term money-like liabilities (quasi-money), notably in shadow banking holdings of sub-prime MBS and other US dollar structured credit instruments and in cross-border flow of capital to the uncompetitive Euro area...

Persistent link: https://www.econbiz.de/10010956136

Modelling bank asset quality and profitability: An empirical assessment

Swamy, Vighneswara - Institut für Weltwirtschaft (IfW) - 2015

The determinants of default risk of banks in emerging economies have so far received inadequate attention in the literature. This paper seeks to study the determinants of bank asset quality and profitability using panel data techniques and robust data sets for the period between 1997 and 2009....

Persistent link: https://www.econbiz.de/10011263002

The Great Recession versus the Great Depression: stylized facts on siblings that were given different foster parents

Aiginger, Karl - Institut für Weltwirtschaft (IfW) - 2010

This paper compares the depth of the Recent Crisis and the Great Depression. We use a new data set to compare the drop in activity in the industrialized countries for seven activity indicators. This is done under the assumption that the Recent Crisis leveled off in mid-2009 for production and...

Persistent link: https://www.econbiz.de/10008615592

Credit conditions indices: controlling for regime shifts in the Norwegian credit market

Jansen, Eilev S.; Krogh, Tord S. H. - Institut für Weltwirtschaft (IfW) - 2011

The interaction between financial markets and the macroeconomy can be strongly affected by changes in credit market regulations. In order to take account of these effects the authors control explicitly for regime shifts in a system of debt equations for Norway using a common, flexible trend. The...

Persistent link: https://www.econbiz.de/10009025225

Evolutionary model of the bank size distribution

Kaldasch, Joachim - Institut für Weltwirtschaft (IfW) - 2013

An evolutionary model of the bank size distribution is presented based on the exchange and expansion of deposit money. In agreement with empirical results the derived size distribution is lognormal with a power law tail. The key idea of the theory is to regard the creation of money as a slow...

Persistent link: https://www.econbiz.de/10010956102

Implicit Microfoundations for Macroeconomics

Wright, Ian - Institut für Weltwirtschaft (IfW) - 2008

A large market economy has a huge number of degrees of freedom with weak microlevel coordination. The implicit microfoundations' approach assumes this property of micro-level interactions more strongly conditions macro-level outcomes compared to the precise details of individual choice behavior;...

Persistent link: https://www.econbiz.de/10005083360