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The quantification of structural reforms : extending the framework to emerging market economies

Égert, Balázs - 2018

. More competition-friendly regulations, as measured by the OECDs' Product Market Regulation (PMR) indicator improve economic … businesses boost the capital stock and the employment rate. No robust link between labour market regulation and MFP and capital … deepening could be established. But looser labour market regulation is found to go hand in hand with higher employment rates …

Persistent link: https://www.econbiz.de/10011800715

Sustainability of product market collusion under credit market imperfections

Marjit, Sugata; Mukherjee, Arijit; Yang, Lei - 2016

We study the implications of credit constraints for the sustainability of product market collusion in a bank-financed oligopoly in which firms face an imperfect credit market. We consider two situations, without and with credit rationing, i.e., with a binding credit limit. When there is credit...

Persistent link: https://www.econbiz.de/10011587934

The dynamics of finance-growth-inequality nexus : theory and evidence for India

Pranab Kumar Das; Ganguli, Bhaswati; Marjit, Sugata; … - 2018

The purpose of this research study has been to expand our understanding of the finance-growth "nexus" to finance-growth-inequality "nexus" in the presence of both the formal and the informal sources of borrowing. Using empirical evidence of IHDS Survey data for two rounds the study attempts to...

Persistent link: https://www.econbiz.de/10011952114

Is medicines parallel trade "regulatory arbitrage"?

Costa-Font, Joan - 2015

regulation, and not by price differences in line with the hypothesis of "regulatory arbitrage". …

Persistent link: https://www.econbiz.de/10010477153

Regulation, institutions and aggregate investment : new evidence from OECD countries

Égert, Balázs - 2017

and labour market regulation on the capital stock. Several alternative testing methods show that the negative influence of … product and labour market regulation is considerably stronger at higher levels. The paper uncovers important policy …

Persistent link: https://www.econbiz.de/10011638226

Investment in OECD countries : a primer

Égert, Balázs - 2021

Aggregate business investment is a major driver of long-term economic growth. It has been weak in many advanced economies over the last decade, partly due to cyclical demand-side effects. Nevertheless, a number of structural factors and policies interact with and have an effect on business...

Persistent link: https://www.econbiz.de/10012543533

Informal care and the Great Recession

Costa-Font, Joan; Karlsson, Martin; Øien, Henning - 2015

Macroeconomic downturns can have an important impact on the availability of informal and formal long-term care. This paper investigates how the market for informal care changed during and after the Great Recession in Europe. We use data from the Survey of Health, Aging and Retirement in Europe,...

Persistent link: https://www.econbiz.de/10011288788

Uncertainty and monetary policy during the great recession

Pellegrino, Giovanni; Castelnuovo, Efrem; Caggiano, Giovanni - 2021

We employ a nonlinear VAR framework and a state-of-the-art identification strategy to document the large response of real activity to a financial uncertainty shock during and in the aftermath of the great recession. We replicate this evidence with an estimated DSGE framework featuring a concept...

Persistent link: https://www.econbiz.de/10012495676

Financial uncertainty and real activity : the good, the bad, and the ugly

Caggiano, Giovanni; Castelnuovo, Efrem; Delrio, Silvia; … - 2020

This paper quantifies the finance uncertainty multiplier (i.e., the magnifying effect of the real impact of uncertainty shocks due to financial frictions) by relying on two historical events related to the US economy, i.e., the large jump in financial uncertainty occurred in October 1987 (which...

Persistent link: https://www.econbiz.de/10012245103

Liquidity traps and large-scale financial crises

Caggiano, Giovanni; Castelnuovo, Efrem; Damette, Olivier; … - 2018

This paper estimates a nonlinear Threshold-VAR to investigate if a Keynesian liquidity trap due to a speculative motive was in place in the U.S. Great Depression and the recent Great Recession. We find clear evidence in favor of a breakdown of the liquidity effect after an unexpected increase in...

Persistent link: https://www.econbiz.de/10011863616