Narrow search
Showing 1 - 8 of 8
Cover Image
DSGE-CH: A dynamic stochastic general equilibrium model for Switzerland
Dellas, Harris; Natal, Jean-Marc; Cuche-Curti, Nicolas A. - Schweizerische Nationalbank (SNB) - 2009
This paper presents a DSGE (dynamic stochastic general equilibrium) model of the Swiss economy used since 2007 in the … variables under various scenarios for the Swiss economy, the model DSGE-CH serves as a laboratory for studying business cycles … and examining the effects of actual and hypothetical monetary policies. The microfounded model DSGE-CH represents …
Persistent link: https://www.econbiz.de/10008471879
Cover Image
A dynamic stochastic general equilibrium model for Switzerland
Cuche-Curti, Nicolas Alexis; Dellas, Harris; Natal, … - Schweizerische Nationalbank (SNB) - 2009
This paper presents a DSGE (dynamic stochastic general equilibrium) model of the Swiss economy used since 2007 in the … variables under various scenarios for the Swiss economy, the model DSGE-CH serves as a laboratory for studying business cycles … and examining the effects of actual and hypothetical monetary policies. The microfounded model DSGE-CH represents …
Persistent link: https://www.econbiz.de/10008925071
Cover Image
Borrowing in Foreign Currency: Austrian Households as Carry Traders
Ongena, Steven; Beer, Christian; Peter, Marcel - Schweizerische Nationalbank (SNB) - 2008
Household borrowing in a foreign currency is a widespread phenomenon in Austria. Twelve percent of Austrian households report their housing loan to be denominated in either Swiss franc or Japanese yen for example. Yet, despite its importance, peculiar character, and immediate policy concerns, we...
Persistent link: https://www.econbiz.de/10005091296
Cover Image
Foreign Currency Borrowing by Small Firms
Brown, Martin; Ongena, Steven; Yesin, Pınar Ayşe Yeşin - Schweizerische Nationalbank (SNB) - 2009
We examine the firm- and country-level determinants of the currency denomination of small business loans. We first model the choice of loan currency in a framework which features a trade-off between lower cost of debt and the risk of firm-level distress costs, and also examines the impact of...
Persistent link: https://www.econbiz.de/10008925048
Cover Image
Borrowing in Foreign Currency: Austrian Households as Carry Traders
Ongena, Steven; Beer, Christian; Peter, Marcel - Schweizerische Nationalbank (SNB) - 2008
Household borrowing in a foreign currency is a widespread phenomenon in Austria. Twelve percent of Austrian households report their housing loan to be denominated in either Swiss franc or Japanese yen for example. Yet, despite its importance, peculiar character, and immediate policy concerns, we...
Persistent link: https://www.econbiz.de/10008925052
Cover Image
Banking sectors' international interconnectedness: Implications for consumption risk sharing in Europe
Nitschka, Thomas - Schweizerische Nationalbank (SNB) - 2012
Cross-border asset and liability holdings allow countries to insulate their consumption streams from idiosyncratic output shocks, i.e. consumption risk sharing. By contrast, banks' international interconnectedness spread the U.S. subprime mortgage crisis to various economies with adverse...
Persistent link: https://www.econbiz.de/10011105995
Cover Image
Foreign Currency Borrowing by Small Firms
Brown, Martin; Ongena, Steven; Yesin, Pınar Ayşe Yeşin - Schweizerische Nationalbank (SNB) - 2009
We examine the firm- and country-level determinants of the currency denomination of small business loans. We first model the choice of loan currency in a framework which features a trade-off between lower cost of debt and the risk of firm-level distress costs, and also examines the impact of...
Persistent link: https://www.econbiz.de/10004991322
Cover Image
Information Asymmetry and Foreign Currency Borrowing by Small Firms
Brown, Martin; Ongena, Steven; Yesin, Pınar Ayşe Yeşin - Schweizerische Nationalbank (SNB) - 2012
We model the choice of loan currency in a framework which features a trade-off between lower cost of debt and the risk of firm-level distress costs. Under perfect information, if foreign currency funds come at a lower interest rate, all foreign currency earners as well as those local currency...
Persistent link: https://www.econbiz.de/10010895107