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Subsidies and innovation in the recent financial crisis
Giebel, Marek; Kraft, Kornelius - 2021
We analyze the impact of subsidies on R&D expenditures in the financial crisis and beyond. The financial crisis has led to considerable turmoil in financing and, as a result, to restrictions of firms' access to external financing. Utilizing this fact, we identify and analyze financing...
Persistent link: https://www.econbiz.de/10012793582
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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
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Assessing macro-financial linkages : a model comparison exercise
Gerke, Rafael; Jonsson, Magnus; Kliem, Martin; Kolasa, … - 2012
which incorporate such linkages. The financial frictions typically considered are the financial accelerator mechanism … Constraints ; Financial Accelerator ; Model Comparison ; Eurosystem central bank models …
Persistent link: https://www.econbiz.de/10009509093
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The financial accelerator and market-based debt instruments : a role for maturities?
Kühl, Michael - 2014
frictions prevail. We modify a standard financial accelerator model à la Bernanke, Gertler, and Gilchrist (1999) and allow for …
Persistent link: https://www.econbiz.de/10010357605
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Bank leverage cycles and the external finance premium
Rannenberg, Ansgar - 2013
, the model reproduces a substantial share of the contraction (increase) of investment (the external finance premium …
Persistent link: https://www.econbiz.de/10010238505
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Time-varying volatility, financial intermediation and monetary policy
Eickmeier, Sandra; Metiu, Norbert; Prieto, Esteban - 2016
We document that expansionary monetary policy shocks are less effective at stimulating output and investment in periods … effectiveness of monetary policy can be linked to weaker responses of credit costs, suggesting a financial accelerator mechanism … aggregate shocks and the financial accelerator more effective. On the contrary, in high volatility periods banks decrease …
Persistent link: https://www.econbiz.de/10011564503
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Financial frictions,the Phillips curve and monetary policy
Lieberknecht, Philipp - 2019
This paper proposes a tractable financial accelerator New Keynesian DSGE modelthat allows for closed-form solutions. In …
Persistent link: https://www.econbiz.de/10012149564
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Age at school transition and children's cognitive and non-cognitive outcomes
Tushar, Bharati,; Green, Thea Harpley - 2021
Persistent link: https://www.econbiz.de/10012601799
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A model of ideological thinking
Le Yaouanq, Yves - 2018
This paper develops a theory in which heterogeneity in political preferences produces a partisan disagreement about objective facts. A political decision involving both idiosyncratic preferences and scientific knowledge is considered. Voters form motivated beliefs in order to improve their...
Persistent link: https://www.econbiz.de/10011899691
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The impact of aging and automation on the macroeconomy and inequality
Stähler, Nikolai - 2020
We build a life-cycle model in which a representative firm produces a final good using routine and non-routine labor as well as traditional and automation capital (e.g. robots). Robots can substitute for routine labor. We show that both, population aging and higher robot productivity, foster the...
Persistent link: https://www.econbiz.de/10012222578