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Small firms and domestic bank dependence in Europe's Great Recession
Hoffmann, Mathias; Maslov, Egor; Sørensen, Bent E. - 2019
Small businesses (SMEs) depend on banks for credit. We show that the severity of the Eurozone crisis was worse in …
Persistent link: https://www.econbiz.de/10012119808
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All you need is cash : corporate cash holdings and investment after the global financial crisis
Joseph, Andreas; Kneer, Christiane; Horen, Neeltje van - 2021
Cash holdings at the onset of a financial crisis are a key determinant of investment by SMEs not only during the crisis but also during the recovery period. Cash-rich SMEs could maintain their capital stock during the global financial crisis, while cash-poor rivals reduced theirs. This gave...
Persistent link: https://www.econbiz.de/10012509557
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Liquidity shortages and monetary policy
Cao, Jin (contributor); Illing, Gerhard (contributor) - 2008
Persistent link: https://www.econbiz.de/10003635213
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Endogenous systemic liquidity risk
Cao, Jin; Illing, Gerhard - 2009
Traditionally, aggregate liquidity shocks are modelled as exogenous events. Extending our previous work (Cao & Illing, 2008), this paper analyses the adequate policy response to endogenous systemic liquidity risk. We analyse the feedback between lender of last resort policy and incentives of...
Persistent link: https://www.econbiz.de/10003833348
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SMEs and access to bank credit : evidence on the regional propagation of the financial crisis in the UK
Degryse, Hans; Matthews, Kent; Zhao, Tianshu - 2015 - Second draft: June 2015
We study the sensitivity of banks' credit supply to small and medium size enterprises (SMEs) in the UK to banks … branches in the UK, we connect firms' access to bank credit to the financial condition (i.e., bank health and the use of core … conditions did not influence credit availability irrespective of the functional distance (i.e., the distance between bank branch …
Persistent link: https://www.econbiz.de/10011288792
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Local capital scarcity and small firm growth : evidence from real estate booms in China
Hau, Harald; Ouyang, Difei - 2019
In geographically segmented credit markets, local real estate booms can deteriorate the funding conditions for small …
Persistent link: https://www.econbiz.de/10012120233
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Political booms, financial crises
Herrera, Helios; Ordoñez, Guillermo; Trebesch, Christoph - 2014
beyond other better-known early warning indicators, such as credit booms. This predictive power, however, only holds in … the short-term popularity benefits of weak credit booms rather than implementing politically costly corrective policies …
Persistent link: https://www.econbiz.de/10010391815
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The transmission of German monetary policy in the pre-Euro period
Lütkepohl, Helmut; Wolters, Jürgen - 2001
A small macroeconomic model is constructed to study the transmission of the monetary policy conducted by the Deutsche Bundesbank (DBB) since the middle of the 1970s. For this purpose quarterly, seasonally unadjusted data for the period from 1975 to 1998 are used, that is, the period until the...
Persistent link: https://www.econbiz.de/10011400913
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Welfare costs of inflation in a dynamic economy with search unemployment and endogenous growth
Heer, Burkhard - 2000
Recent work on money and endogenous growth finds modest welfare costs of inflation. Furthermore, high inflation reduces the growth rate. We present a monetary endogenous growth model with labor market frictions in the form of search unemployment which is calibrated for the US economy....
Persistent link: https://www.econbiz.de/10009781573
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What if firms could borrow more? : evidence from a natural experiment
Brown, James R.; Martinsson, Gustav; Thomann, Christian - 2015
. These results connect the availability of external credit with real activity in entrepreneurial firms in a way that has …
Persistent link: https://www.econbiz.de/10011300345