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The Liquidity Channel of Fiscal Policy
Bayer, Christian - 2020
—the liquidity premium. We rationalize this finding in an estimated heterogeneous-agent New-Keynesian (HANK) model with incomplete … markets and portfolio choice, in which public debt affects private liquidity. In this environment, the short-run fiscal … multiplier is amplified by the countercyclical liquidity premium. This liquidity channel stabilizes investment and crowds in …
Persistent link: https://www.econbiz.de/10012830353
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Policy mix and debt sustainability : evidence from fiscal policy rules
Claeys, Peter - 2005
This paper characterises rules-based fiscal policy setting. Basically, we translate a standard monetary policy rule into a simple fiscal policy rule. We then infer on fiscal policymakers' reaction coefficients by testing the rule with GMM. Interaction is also tested directly by the inclusion of...
Persistent link: https://www.econbiz.de/10010261142
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Control benefits and CEO discipline in automatic bankruptcy auctions
Eckbo, B. Espen; Thorburn, Karin S. - In: Journal of financial economics 69 (2003) 1, pp. 227-258
Persistent link: https://www.econbiz.de/10001769874
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Creditor control rights and resource allocation within firms
Ersahin, Nuri; Irani, Rustom M.; Le, Hanh - In: Journal of financial economics 139 (2021) 1, pp. 186-208
Persistent link: https://www.econbiz.de/10012650234
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It's not so bad : Director bankruptcy experience and corporate risk-taking
Gopalan, Radhakrishnan; Gormley, Todd A.; Kalda, Ankit - In: Journal of financial economics 142 (2021) 1, pp. 261-292
Persistent link: https://www.econbiz.de/10012650708
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Corporate governance of banks and financial stability
Anginer, Deniz; Demirgüç-Kunt, Asli; Huizinga, Harry; … - In: Journal of financial economics 130 (2018) 2, pp. 327-346
Persistent link: https://www.econbiz.de/10012051323
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Does the director labor market offer ex post settling-up for CEOs? : the case of acquisitions
Harford, Jarrad V. T.; Schonlau, Robert J. - In: Journal of financial economics 110 (2013) 1, pp. 18-36
Persistent link: https://www.econbiz.de/10010207961
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Dealer financial conditions and lender-of-last-resort facilities
Acharya, Viral V.; Fleming, Michael J.; Hrung, Warren B.; … - In: Journal of financial economics 123 (2017) 1, pp. 81-107
Persistent link: https://www.econbiz.de/10011725183
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Labor Market Institutions, Fiscal Multipliers, and Macroeconomic Volatility
Böck, Maximilian; Crespo Cuaresma, Jesus; Glocker, … - 2022
We study empirically how various labor market institutions – (i) union density, (ii) unemployment benefit remuneration, and (iii) employment protection – shape fiscal multipliers and output volatility. Our theoretical model highlights that more stringent labor market institutions attenuate...
Persistent link: https://www.econbiz.de/10014083477
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Federal Reserve Liquidity Provision during the Financial Crisis of 2007-2009
Fleming, Michael J. - 2012
This paper examines the Federal Reserve's unprecedented liquidity provision during the financial crisis of 2007 …-2009. It first reviews how the Fed provides liquidity in normal times. It then explains how the Fed's new and expanded … liquidity facilities were intended to enable the central bank to fulfill its traditional lender-of-last-resort role during the …
Persistent link: https://www.econbiz.de/10013102405