Narrow search
Showing 1 - 10 of 528
Cover Image
Macroeconomic factors and micro-level bank risk
Buch, Claudia M.; Eickmeier, Sandra; Prieto, Esteban - 2010
The interplay between banks and the macroeconomy is of key importance for financial and economic stability. We analyze this link using a factor-augmented vector autoregressive model (FAVAR) which extends a standard VAR for the U.S. macroeconomy. The model includes GDP growth, inflation, the...
Persistent link: https://www.econbiz.de/10008697545
Cover Image
Borrow and adjust : fiscal policy and sectoral adjustment in an open economy
Steigum, Erling; Thøgersen, Øystein - 2001
Should the government run fiscal deficits in response to an adverse external shock that warrants transfer of resources …
Persistent link: https://www.econbiz.de/10011400804
Cover Image
The crisis and regional resilience in Europe : on the importance of urbanization and specialization
Steven, Brakman; Garretsen, Harry; Marrewijk, Charles van - 2014 - This version:, March 2014
that started in 2008, as our shock and then analyze how the NUTS II EU regions differ in their resilience to the crisis in …
Persistent link: https://www.econbiz.de/10010337597
Cover Image
Output smoothing in EMU and OECD : can we forego government contribution? : a risk sharing approach
Marinheiro, Carlos Fonseca - 2003
This paper analyses the smoothing of asymmetric shocks to output for a sample of OECD countries. It also examines whether the private capital markets will be able to replace the government in providing output smoothing in the euro-area, in the near future. The research finds no evidence of large...
Persistent link: https://www.econbiz.de/10011509508
Cover Image
External monetary shocks and monetary integration : evidence from the Bulgarian currency board
Minea, Alexandru; Rault, Christophe - 2011
Starting July the 1st 1997, Bulgaria adopted a Currency Board (CB) monetary system. This paper aims at investigating if the adoption of the CB monetary system, which involves the cost of loosing monetary autonomy, has provided a relatively better (with respect to other CEEC) monetary integration...
Persistent link: https://www.econbiz.de/10009012188
Cover Image
Firm response to competitive shocks : evidence from China's minimum wage policy
Hau, Harald; Huang, Yi; Wang, Gewei - 2017
The large regional variation in minimum wage levels in the period 2002-08 in China implies that Chinese manufacturing firms experienced competitive shocks as a function of firm location and their low-wage employment share. We find that minimum wage hikes accelerate the input substitution from...
Persistent link: https://www.econbiz.de/10011718640
Cover Image
Germany's economic unification : an assessment after ten years
Sinn, Hans-Werner - 2000
incomes in the east have now reached the western level, and investment per capita has been much higher than in the w est …. However, every third deutschmark spent in the east has been coming from the west, investment in equipment has fallen below the … west Germany. Excessively high wages coupled with investment incentives that made the cost of capital negative rank high …
Persistent link: https://www.econbiz.de/10009781521
Cover Image
The cross-section of firms over the business cycle : new facts and a DSGE exploration
Bachmann, Ruediger; Bayer, Christian - 2009
-level investment is procyclical. We show that a heterogeneous-firm RBC model with quantitatively realistic countercyclically disperse … state investment rate distribution, produces investment dispersion that positively comoves with the cycle, with a …-sectional firm dynamics ; lumpy investment ; countercyclical risk ; aggregate shocks ; idiosyncratic shocks ; heterogeneous firms …
Persistent link: https://www.econbiz.de/10003888063
Cover Image
Firm-specific productivity risk over the business cycle : facts and aggregate implications
Bachmann, Ruediger; Bayer, Christian - 2009
-varying uncertainty, highlighted in the literature. -- Ss model ; RBC model ; lumpy investment ; countercyclical risk ; aggregate shocks …
Persistent link: https://www.econbiz.de/10003898815
Cover Image
Investment shocks, tax evasion and the consumption puzzle : a DSGE analysis with financial frictions
Chiarini, Bruno; Ferrara, Maria; Marzano, Elisabetta - 2016
explaining the consumption path after a Marginal Efficiency of Investment shock. We use an otherwise standard medium-scale New …
Persistent link: https://www.econbiz.de/10011515322