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Financial constraints and capacity adjustment in the United Kingdom - evidence from a large panel of survey data

Kalckreuth, Ulf von (contributor); Murphy, Emma (contributor) - 2004

The interrelationship between financial constraints and firm activity is a hotly debated issue. The way firms cope with financial constraints is fundamental to the analysis of monetary transmission, of financial stability and of growth and development. The CBI Industrial Trends Survey contains...

Persistent link: https://www.econbiz.de/10002681975

Financing constraints, firm level adjustment of capital and aggregate implications

Kalckreuth, Ulf von (contributor) - 2008

varying speed of adjustment when the target level is partially unobserved. After estimating the micro-dynamics of capital …

Persistent link: https://www.econbiz.de/10003721516

Financial constraints for investors and the speed of adaptation : are innovators special?

Kalckreuth, Ulf von (contributor) - 2004 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10002162596

Exploring the role of uncertainty for corporate investment decisions in Germany

Kalckreuth, Ulf von - 2000

The impact of uncertainty on firms' investment outlays is subject to an ongoing debate. Theory identifies several channels. Irreversibility, financing constraints and risk aversion make a negative relationship between uncertainty and investment likely. On the other hand, the ability of firms to...

Persistent link: https://www.econbiz.de/10011418846

Monetary transmission in Germany : new perspectives on financial constraints and investment spending

Kalckreuth, Ulf von - 2001

In order to obtain a better understanding of monetary transmission, this paper assesses the importance of the interest rate and credit channels on business fixed investment in the German manufacturing sector. Our panel of financial statements contains 44,345 observations for 6,408 firms. We...

Persistent link: https://www.econbiz.de/10011419985

Firm investment and monetary policy transmission in the Euro area

Kalckreuth, Ulf von; Hernando, Ignacio; Generale, Andrea; … - 2001

We present a comparable set of results on the monetary transmission channels on firm investment for the four largest euro-area countries (Germany, France, Italy and Spain). With particularly rich micro datasets for each country containing over 215,000 observations from 1985 to 1999, we explore...

Persistent link: https://www.econbiz.de/10011431058

Further evidence on the relationship between firm investment and financial status

Chirinko, Robert S.; Kalckreuth, Ulf von - 2002

des Cash-Flow bei finanziell beschränkten Unternehmen höher liegt. Dieses für die Theorie finanzieller Beschränkungen …

Persistent link: https://www.econbiz.de/10011431837

A Vectorautoregressive Investment Model (VIM) and monetary policy transmission : panel evidence from German firms

Breitung, Jörg; Chirinko, Robert S.; Kalckreuth, Ulf von - 2003

) supplemented with user costs of capital and confidential measures of creditworthiness, we generate GMM estimates of a … Vectorautoregressive Investment Model (VIM). It contains investment and cash flow as endogenous variables, and the user costs of capital …, and business investment is responsive to interest rates embedded in the user cost of capital. Second, allowing real and …

Persistent link: https://www.econbiz.de/10011432001

Should the individual voting records of central bankers be published?

Gersbach, Hans; Hahn, Volker - 2001

We examine whether it is socially beneficial for the individual voting records of central bank council members to be published when the general public is unsure about central bankers' efficiency and central bankers are aiming for re-election. We show that publication is initially harmful since...

Persistent link: https://www.econbiz.de/10011419080

Voting transparency and conflicting interests in central bank councils

Gersbach, Hans; Hahn, Volker - 2001

This paper examines whether it is socially desirable for the individual voting records of central bank council members to be published when central bankers' preferences differ. We show that the misrepresentation of their preferences is not advantageous for central bankers although central...

Persistent link: https://www.econbiz.de/10011419124