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Using a Bayesian vector autoregression (BVAR) identified with a mix of sign and zero restrictions, we show that a restrictive bank loan supply shock has a strong and persistent negative impact on real GDP and the GDP deflator. This result comes about even though flows of other sources of...
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We use a newly constructed narrative measure of regulatory bank capital requirement tightening events (Eickmeier et al … decline in inequality at longer horizons, as it cushions the negative effects of the capital requirement tightenings on wages …
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In this paper, substitutional relationships between capital, labour, material, electricity, and fossil fuels in German … the Morishima elasticity of substitution, labour and capital are substitutes in all sectors. Labour is generally a …
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1978 to 1990. Using a quadratic cost function, six production factors are distinguished : capital, energy, three types of …
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studies analyzing the relative capital-skill complementarity hypothesis formulated by GRILICHES (1969). According to this … hypothesis, the degree of substitutability between skilled labor and capital is lower than that for unskilled labor and capital …
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