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Financial Cycles, Credit Bubbles and Stabilization Policies
Corrado, Luisa - 2019
This paper analyzes the effects of several policy instruments to mitigate financial bubbles generated in the banking sector. We augment a New Keynesian macroeconomic framework by endogenizing boundedly-rational expectations on asset values of loan portfolios and allow for interbank trading. We...
Persistent link: https://www.econbiz.de/10012892165
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Behavioural Credit Cycles
Delli Gatti, Domenico; Iannotta, Gabriele - 2022
We explore the intertwined dynamics of asset prices and the macroeconomy in a Behavioural model of Credit Cycles (BCC) characterized by a credit friction à la Kiyotaki and Moore and heterogeneous expectations cum heuristic switching à la Brock and Hommes. This behavioural approach allows to...
Persistent link: https://www.econbiz.de/10014244347
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Competition and the Role of Group Identity
Cornaglia, Francesca - 2019
The emergence of competition is a defining aspect of human nature and characterizes many important social environments …
Persistent link: https://www.econbiz.de/10012866401
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Competition for Promotion Can Induce Household Specialization between Equally Competitive Spouses
Bastani, Spencer; Dickmanns, Lisa; Giebe, Thomas; … - 2022
We analyze equally competitive spouses competing for promotion in their respective workplaces and show that an asymmetric equilibrium featuring household specialization can arise. Examples where the asymmetric equilibrium is welfare-superior to the symmetric equilibrium are highlighted. By...
Persistent link: https://www.econbiz.de/10013293277
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Competition and Career Advancement
Johnsen, Julian; Ku, Hyejin; Salvanes, Kjell G. - 2023
In standard promotion tournaments, contestants are ranked based on their output or productivity. We argue that workers’ career progression may also depend on their relative rankings in dimensions a priori unrelated to their job performance, such as visibility or in-person presence. Such...
Persistent link: https://www.econbiz.de/10014345961
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The Impact of the German 'DEAL' on Competition in the Academic Publishing Market
Haucap, Justus; Moshgbar, Nima; Schmal, Wolfgang Benedikt - 2021
publications in Wiley and Springer Nature journals at the cost of other journals. From that two related competition concerns emerge …
Persistent link: https://www.econbiz.de/10013236277
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Is Being Competitive Always an Advantage? Degrees of Competitiveness, Gender, and Premature Work Contract Termination
Lüthi, Samuel; Wolter, Stefan C. - 2021
In this study, we examine the influence of competitiveness on the stability of labour relations using the example of premature employment and training contract termination in the apprenticeship education sector. The paper extends the small but growing evidence on the external relevance of...
Persistent link: https://www.econbiz.de/10013214340
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Credit Market Imperfection, Lack of Entrepreneurs and Capital Outflow from a Developing Economy
Marjit, Sugata - 2020
This paper explores the impact of credit market on the entrepreneurs and demand for credit in a credit constrained economy and the resultant impact on the capital flows. In standard trade models the capital flows across countries are explained as a result of the rate of return differentials due...
Persistent link: https://www.econbiz.de/10012824582
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When Pro-Poor Microcredit Institutions Favor Richer Borrowers - A Moral Hazard Story
Biancini, Sara; Venet, Baptiste; Ettinger, David - 2021
We suggest an explanation for the existence of “mission drift”, the tendency for Microfinance Institutions (MFIs) to lend money to wealthier borrowers rather than to the very poor. We focus on the relationship between MFIs and external funding institutions. We assume that both the MFIs and...
Persistent link: https://www.econbiz.de/10013245624
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Asset Level Heterogeneity, Competition and Export Incentives : The Role of Credit Rationing
Marjit, Sugata - 2020
through asset building. The theoretical and empirical results indicate that an increase in the initial level of competition … implies greater export incentive. However, over the life cycle of a firm, the role of competition is impacted by the intensity … of capital accumulation and the initial level of wealth. Greater local competition before the entry of firms in the …
Persistent link: https://www.econbiz.de/10012836956