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Lucas paradox and allocation puzzle : is the euro area different?

Herrmann, Sabine; Kleinert, Jörn - 2014

This paper examines the Lucas Paradox and the Allocation Puzzle of international capital flows referring to a panel data set of EMU countries and major industrialized and emerging economies. Overall, the results do not provide evidence in favour of the Lucas Paradox and the Allocation Puzzle....

Persistent link: https://www.econbiz.de/10010249651

Consumption-led expansions are toxic for future output growth

Virén, Matti E. E. - 2022

When assessing future growth prospects, does it matter how the economy grows now? In other words, does the current structure of demand affect future growth? This question is analyzed in our paper by using global and EU panel data. The result is quite striking: consumption-led growth - either in...

Persistent link: https://www.econbiz.de/10014551580

Consumption-led expansions are toxic for future output growth

Virén, Matti E. E. - 2022

Persistent link: https://www.econbiz.de/10013440345

Financial development, growth and equity in Brazil

Pinheiro, Armando Castelar; Bonelli, Régis - 2015

development, growth and equity. The focus is on the Brazilian case, but we also aim at contributing to a broader discussion on the … role of financial markets in fostering economic development in Latin America. The analysis discusses: a) Brazil’s recent … the state in mobilizing and allocating savings, largely an inheritance of the pre-1990s development model, which dampens …

Persistent link: https://www.econbiz.de/10012025394

From financial to real economic crisis : evidence from individual firm-bank relationships in Germany

Dwenger, Nadja; Fossen, Frank M.; Simmler, Martin - 2015 - First version: February 14, 2015, This version: September 25, 2015

What began as a financial crisis in the United States in 2007-2008 quickly evolved into a massive crisis of the global real economy. We investigate the importance of the bank lending and firm borrowing channel in the international transmission of bank distress to the real economy - in...

Persistent link: https://www.econbiz.de/10011346644

Cross-border liquidity, relationships and monetary policy : evidence from the Euro area interbank crisis

Abbassi, Puriya; Bräuning, Falk; Fecht, Falko; … - 2014 - This version: November 2014

We analyze the impact of financial crises and monetary policy on the supply of wholesale funding liquidity, and also on the compositional supply effects through cross-border and relationship lending. For empirical identification, we draw on the proprietary bank-to-bank European interbank dataset...

Persistent link: https://www.econbiz.de/10010471858

R&D investment under financing constraints

Giebel, Marek; Kraft, Kornelius - 2020

This paper tests for the sensitivity of R&D to financing constraints conditional on restrictions in external financing. Financing constraints of firms are identified by an exogenously calculated rating index. Restrictions in external financing are determined by (i) the specific time period...

Persistent link: https://www.econbiz.de/10012196342

Offshoring, Relocation and the Speed of Convergence: Convergence in the Enlarged European Union

Alho, Kari E. O.; Kaitila, Ville; Widgrén, Mika - 2008

Economic convergence of the new member states (NMS) of the EU towards the old EU countries (EU-15), not only in terms of real income, but also in nominal terms, is of paramount importance for the whole of the EU. We build a dynamic CGE model, starting from the Balassa-Samuelson two-sector...

Persistent link: https://www.econbiz.de/10012502995

Testing Brazilians' imports and exports co-integration with monthly data for 1996-2005

Hollauer, Gilberto; Mendonça, Marco Aurélio Alves de - 2015

The goal of this paper is to test the Husted model and to inspect the long-run sustainability of Brazilian current account in a very specific period of time (1996-2005) by the use of monthly data. We have tested the inter-temporal budget constraints (IBC) condition via unit root test with...

Persistent link: https://www.econbiz.de/10012038482

Do firm credit constraints impair climate policy?

Kaldorf, Matthias; Shi, Mengjie - 2024

This paper shows that firm credit constraints impair climate policy. Empirically, firms with tighter credit constraints, measured by their distanceto-default, exhibit a relatively smaller emission reduction after a carbon tax increase. We incorporate this channel into a quantitative DSGE model...

Persistent link: https://www.econbiz.de/10014632344

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