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The financial accelerator in the euro area : new evidence using a mixture VAR model

Bennani, Hamza; Neuenkirch, Matthias - 2020

, this provides further evidence for a financial accelerator in the euro area. Finally, the detrimental effect of credit …

Persistent link: https://www.econbiz.de/10012383710

Breaking bad : supply chain disruptions in a streamlined agent based model

Delli Gatti, Domenico; Grugni, Elisa - 2021

-stream firms. We consider two scenarios. In the first one, because of the lockdown all the upstream firms are forced to cut … production. This generates a sizable down-turn during the lockdown due to the indirect effects of the shock (network based … financial accelerator). In the second scenario, only those upstream firms located in the "red zone" are forced to contract …

Persistent link: https://www.econbiz.de/10012508657

Credit channel and business cycle : the role of tax evasion

Chiarini, Bruno; Ferrara, Maria; Marzano, Elisabetta - 2018

accelerator. For this purpose, we assume that financially constrained agents are tax evaders, taking advantage of an additional … the credit channel via the financial accelerator mechanism. The results show that tax evasion is pro cyclical and … strengthens the effects of the financial accelerator. Unlike the standard literature, in which tax evasion cushions business cycle …

Persistent link: https://www.econbiz.de/10011882444

Sustainable banking and credit market segmentation

Kelly, David L.; Paik, Christopher - 2024

We assess the feasibility, optimality, and policy implications of Environmental, Social, and Corporate Governance (ESG)-linked or “green” lending in a credit market where banks incorporate such non-financial data in credit allocation decisions. We identify an asymmetric information problem:...

Persistent link: https://www.econbiz.de/10015144331

Breaking invisible barriers : does fast internet improve access to input markets?

Demir, Banu; Javorcik, Beata K. Smarzynska; Panigrahi, … - 2024

This paper explores how improved internet infrastructure impacts supply chains and economic activity, focusing on Türkiye. Using the expansion of fiber-optic networks and firm-to-firm transaction data, we find that better connectivity shifts input sourcing to well-connected regions and...

Persistent link: https://www.econbiz.de/10015164646

The network origins of the gains from trade

Bosker, Maarten; Westbrock, Bastian - 2019

In this paper, we develop a network perspective on the welfare gains from trade in today's internationally fragmented supply chains. Towards this end, we study a Ricardian trade model featuring trade in final and intermediate products, and introduce a novel comparative statics approach to...

Persistent link: https://www.econbiz.de/10011986141

AI-generated production networks : measurement and applications to global trade

Fetzer, Thiemo; Lambert, Peter; Feld, Bennet; Garg, Prashant - 2024

This paper leverages generative AI to build a network structure over 5,000 product nodes, where directed edges represent input-output relationships in production. We layout a two-step ‘build-prune’ approach using an ensemble of prompt-tuned generative AI classifications. The ’build’ step...

Persistent link: https://www.econbiz.de/10015125507

Where is the value added? : trade liberalization and production networks

Aichele, Rahel; Heiland, Inga - 2016

Fragmentation of the global value chain makes it difficult to assess the effects of trade liberalization on the global pattern of production. Gross bilateral trade ows no longer reveal a country's or a sector's value added contribution. Yet, it is value added that matters for employment and...

Persistent link: https://www.econbiz.de/10011517926

Risk-sharing and contagion in networks

Cabrales, Antonio; Gottardi, Piero; Vega-Redondo, Fernando - 2014 - This version: January 15, 2014

We investigate the trade-off between the risk-sharing gains enjoyed by more interconnected firms and the costs resulting from an increased risk exposure. We find that when the shock distribution displays "fat" tails, extreme segmentation into small components is optimal, while minimal...

Persistent link: https://www.econbiz.de/10010260030

Resilience, supply chains and the great recession

Brakman, Steven; Marrewijk, Charles van - 2017 - This version: May 2017

We analyse the link between supply chains and the extent to which the Great Recession has affected national economies. Our analysis is in two steps, namely first for value added measures of supply chains and then for the Grubel-Lloyd index using gross-export data. Regarding value added measures...

Persistent link: https://www.econbiz.de/10011659477