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Liquidity and the dynamic pattern of price adjustment: a global view
Belke, Ansgar; Orth, Walter; Setzer, Ralph - 2008
Global liquidity expansion has been very dynamic since 2001. Contrary to conventional wisdom, high money growth rates have not coincided with a concurrent rise in goods prices. At the same time, however, asset prices have increased sharply, significantly outpacing the subdued development in...
Persistent link: https://www.econbiz.de/10010298742
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The Economic Impact of Venture Capital
van Pottelsberghe de la Potterie, Bruno; Romain, Astrid - 2004
This paper attempts to evaluate the macroeconomic impact of venture capital (VC). We test the assumption that VC is similar in several respects to business R&D performed by large firms and therefore contributes to economic growth through two main channels: innovation and absorptive capacity. The...
Persistent link: https://www.econbiz.de/10010295645
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Going multinational: What are the effects on home market performance?
Jäckle, Robert - 2006
productivity and wage growth are higher for newly founded MNEs than for national rms. Employment growth is superior before …
Persistent link: https://www.econbiz.de/10010295791
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Capital, labour and productivity: What role do they play in the potential GPD weakness of France, Germany and Italy?
Bassanetti, Antonio; Döpke, Jörg; Torrini, Roberto; … - 2006
the pronounced worsening of total factor productivity. The paper is rounded out by estimates of some measures of wage …
Persistent link: https://www.econbiz.de/10010295797
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Determinants of German FDI: New Evidence from Micro-Data
Toubal, Farid; Kleinert, Jörn; Buch, Claudia M. - 2003
This paper provides new evidence on the foreign direct investment stocks of German firms. We use firm-level data for the years 1990-2000 to describe the regional and sectoral patterns of German FDI through gravity-type equations. We provide evidence on the patterns of FDI by sector, by size of...
Persistent link: https://www.econbiz.de/10010295757
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Dependence on external finance: an inherent industry characteristic?
von Kalckreuth, Ulf; von Furstenberg, George M. - 2006
Rajan and Zingales (1998) use U.S. Compustat firm data for the 1980s to obtain measures of manufacturing sectors? Dependence on External Finance (DEF). They take any differences in these measures to be structural/technological and thus applicable to other countries. Their joint assumptions about...
Persistent link: https://www.econbiz.de/10010295819
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Has the export pricing behaviour of German enterprises changed? Empirical evidence from German sectoral prices
Stahn, Kerstin - 2006
The question as to whether the globalisation-related increase in competitive pressure may have caused the importance of exchange rate pass-through and pricing-to-market for export pricing in Germany to shift since the 1990s is addressed by testing the long-run export pricing behaviour of German...
Persistent link: https://www.econbiz.de/10010295826
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Industries and the bank lending effects of bank credit demand and monetary policy in Germany
Arnold, Ivo J. M.; Kool, Clemens J. M.; Raabe, Katharina - 2006
This paper presents evidence on the industry effects of bank lending in Germany and identifies the industry effects of bank lending associated with changes in monetary policy and industryspecific bank credit demand. To this end, we estimate individual bank lending functions for 13 manufacturing...
Persistent link: https://www.econbiz.de/10010295837
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Inflation and core money growth in the euro area
Neumann, Manfred J. M.; Greiber, Claus - 2004
-King, wavelets) as empirical measures of core money. The estimation results uniformly indicate that inflation and core money growth …This paper studies the importance of money for inflation in the euro area. An inflation equation is derived from a … small model that combines the supply and demand for money with a Phillips curve and the assumption that inflation …
Persistent link: https://www.econbiz.de/10010295663
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Do monetary indicators (still) predict euro area inflation?
Hofmann, Boris - 2006
This paper assesses the performance of monetary indicators in predicting euro area HICP inflation out-of-sample over …. The results suggest that monetary indicators are still useful indicators for inflation in the euro area, but that a … inflation. …
Persistent link: https://www.econbiz.de/10010295806