Similar Search Results

Matching and Credit Frictions in the Housing Market

Eerola, Essi - 2016

We study the interaction of matching and credit frictions in the housing market. In the model, risk-averse households … of matching frictions. We also show that credit frictions greatly magnify the effects of matching frictions. For instance …, in the presence of matching frictions, a moderate tightening of the borrowing constraint increases idiosyncratic price …

Persistent link: https://www.econbiz.de/10013003192

International Propagation of Financial Shocks in a Search and Matching Environment

Isoré, Marlène - 2017

. The search and matching approach first accounts for the time needed to restore normal functioning of financial markets …

Persistent link: https://www.econbiz.de/10012967228

Signaling Asset Price Bubbles with Time-Series Methods

Taipalus, Katja - 2012

This paper provides an early warning indicator for bubbles in financial markets. The indicator is based on traditional unit root tests, more precisely on the augmented Dickey-Fuller test and may be used in a repeated manner with rolling samples. The performance of the indicator is tested...

Persistent link: https://www.econbiz.de/10013111338

Why is Equity Capital Expensive for Opaque Banks?

Kauko, Karlo - 2012

-Miller irrelevance theorem. This paper combines dividend signalling theories and the Diamond-Dybvig bank run model. An opaque bank must … signal its solvency by paying high and stable dividends in order to keep depositors tranquil. This signalling may require …

Persistent link: https://www.econbiz.de/10013111710

Estimating Open Economy Phillips Curves for the Euro Area with Directly Measured Expectations

Paloviita, Maritta - 2008

This paper examines euro area inflation dynamics by estimating open economy New Keynesian Phillips curves based on the assumption that all imports are intermediate goods. Instead of imposing rational expectations a priori, Consensus Economics survey data and OECD inflation forecasts are used to...

Persistent link: https://www.econbiz.de/10012723885

Did the Basel Process of Capital Regulation Enhance the Resiliency of European Banks?

Gehrig, Thomas - 2018

This paper analyses the evolution of the safety and soundness of the European banking sector during the various stages of the Basel process of capital regulation. In the first part we document the evolution of various measures of systemic risk as the Basel process unfolds. Most strikingly, we...

Persistent link: https://www.econbiz.de/10012910412

Leverage Constraints and Real Interest Rates

Isohätälä, Jukka - 2016

This paper investigates the macroconomics of real interest rates when there are constraints on debt finance, used both for insurance against income shocks and transferability of resources over time. We amend a standard continuous-time deterministic model of international exchange, with patient...

Persistent link: https://www.econbiz.de/10012993690

Leverage Constraints and Real Interest Rates

Isohätälä, Jukka - 2014

This paper investigates the macroconomics of real interest rates when there are constraints on debt fi nance, used both for insurance against income shocks and transferability of resources over time. We amend a standard continuous-time deterministic model of international exchange, with patient...

Persistent link: https://www.econbiz.de/10013043925

Estimating Regime-Switching Taylor Rules with Trend Inflation

Castelnuovo, Efrem; Greco, Luciano G.; Raggi, Davide - 2008

This paper estimates regime-switching monetary policy rules featuring trend inflation using post-WWII US data. We find evidence in favour of regime shifts and time-variation of the inflation target. We also find a drop in the inflation gap persistence when entering the Great Moderation sample....

Persistent link: https://www.econbiz.de/10014214669

The Nonlinearity of the Phillips Curve and European Monetary Policy

Pyyhtiä, Ilmo - 2009

This paper deals with the question of whether the euro area Phillips curve is nonlinear. There has recently been a great deal of discussion and studies concerning the same question in the US context. The data set includes most of the euro area countries, namely Austria, Germany, Finland, France,...

Persistent link: https://www.econbiz.de/10014223508

1
2
3
4
5
6
7
8
9
10
Next
Last