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Monetary policy, housing, and collateral constraints
Franz, Thorsten - 2019
House-purchasing decisions and the possibility of existing homeowners to tap into their housing equity depend decisively on prevailing loan-to-value (LTV) ratios in mortgage markets with borrowing constrained households. Utilizing a smooth transition local projection (STLP) approach, I show that...
Persistent link: https://www.econbiz.de/10011963152
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Spending effects of child-related fiscal transfers
Goldfayn-Frank, Olga; Lewis, Vivien; Wehrhöfer, Nils - 2022
As part of Germany’s fiscal response to the Covid-19 pandemic, parents received three payments totalling e450 per child. Randomization in the payment dates and daily scanner data allow us to identify the effects of these transfers on household spending. We find a significant but small spending...
Persistent link: https://www.econbiz.de/10013268076
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Buried in the vaults of central banks : monetary gold hoarding and the slide into the Great Depression
Karau, Sören - 2020 - This draft: October 2020
macroeconometric literature, the paper i) uses a newly-assembled monthly data set of the interwar world economy, and ii) models … monetary disturbances as shocks to central bank gold demand. Based on a monetary DSGE model, the world gold reserve ratio (the … of narrative information to sharpen shock identification in a structural VAR analysis based on sign restrictions …
Persistent link: https://www.econbiz.de/10012405992
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This time is not so different: income dynamics during the Covid-19 recession
Bell, Brian; Bloom, Nicholas; Blundell, Jack - 2021
Persistent link: https://www.econbiz.de/10012614427
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The UK's great demand and supply recession
Jacob, Nick; Mion, Giordano - 2020
Persistent link: https://www.econbiz.de/10012487167
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Cluster externalities, firm capabilities, and the recessionary shock : how the macro-to-micro-transition shapes firm performance during stable times and times of crisis
Hundt, Christian; Holtermann, Linus; Steeger, Jonas; … - 2019
macroeconomic instability caused by the recessionary shock of 2008/2009. Using data from 16,166 manufacturing and business services …
Persistent link: https://www.econbiz.de/10011985889
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Uncertainty shocks and financial crisis indicators
Hristov, Nikolay; Roth, Markus - 2019
The current paper broadens the understanding for the role of uncertainty in the context of a macroeconomic environment. It focuses on the implications of uncertainty shocks on indicators that tend to precede financial crises. In an empirical analysis we show for a set of four euro area countries...
Persistent link: https://www.econbiz.de/10012102657
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Public R&D investment in economic crises
Pellens, Maikel; Peters, Bettina; Hud, Martin; Rammer, … - 2021 - This version: November 2021
Persistent link: https://www.econbiz.de/10012818365
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Public R&D investment in economic crises
Pellens, Maikel; Peters, Bettina; Hud, Martin; Rammer, … - 2020 - This version: November 2020
We study the cyclicality of public R&D in 28 OECD countries (1995-2017). While procyclical on average, public R&D reacts asymmetrically over different phases of the business cycle and becomes acyclical during recessions. It is also heterogeneous across countries: Innovation leaders and followers...
Persistent link: https://www.econbiz.de/10012390728
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Is the 'Great Recession' really so different from the past?
Chiu, Adrian; Wieladek, Tomasz - 2013
the world experienced in 2008–09, is the deepest global economic contraction since the Great Depression. But as real …
Persistent link: https://www.econbiz.de/10009762417