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Does greater inequality lead to more household borrowing? : new evidence from household data
Coibion, Olivier; Gorodnichenko, Yuriy; Kudlyak, Marianna; … - 2014
One suggested hypothesis for the dramatic rise in household borrowing that preceded the financial crisis is that low-income households increased their demand for credit to finance higher consumption expenditures in order to "keep up" with higherincome households. Using household level data on...
Persistent link: https://www.econbiz.de/10010238213
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Dealer pricing of consumer credit
Bertola, Giuseppe; Hochgürtel, Stefan; Koeniger, Winfried - 2002
purchases. This paper interprets this phenomenon in terms of monopolistic price discrimination. We characterize consumers … incentives for durable-good dealers to price-discriminate by subsidizing their liquidity-constrained customers' installment …
Persistent link: https://www.econbiz.de/10011406655
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Financial markets, banks' cost of funding, and firms' decisions : lessons from two crises
Balduzzi, Pierluigi; Brancati, Emanuele; Schiantarelli, … - 2013
We test whether financial fluctuations affect firms' decisions, through their impact on banks' cost of funding. We exploit two shocks to Italian bank CDS spreads and equity valuations: the 2007-2009 financial crisis and the 2010-2012 sovereign debt crisis. Using newly available data linking over...
Persistent link: https://www.econbiz.de/10010229932
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Prices, policing and policy : the dynamics of crime booms and busts
Kirchmaier, Tom; Machin, Stephen; Sandi, Matteo; Witt, … - 2018
the case of metal crime, where in the face of big increases in value driven by world commodity prices, the incidence of … shows sizeable and significant metal crime-price elasticities, in line with the idea that changing economic returns do shape … crime. However, the rapid upward and downward trends are not only due to price changes. Their temporal evolution is also …
Persistent link: https://www.econbiz.de/10011853434
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Precious metal prices : a tale of four U.S. recessions
Agnese, Pablo; Garcia-del-Barrio, Pedro; Gil-Alaña, Luis A. - 2023
This paper empirically examines the degree of persistence in four precious metal prices (i.e., gold, palladium, platinum, and silver) during the last four U.S. recessions. Unit root tests and fractional integration techniques suggest that gold still is the most prominent safe haven asset within...
Persistent link: https://www.econbiz.de/10014246740
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Capital market integration and gender inequality
Komura, Mizuki; Ogawa, Hikaru - 2018
induces empirically observed declines in fertility rates throughout the world. …
Persistent link: https://www.econbiz.de/10011925357
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Thresholds in the process of international financial integration
Kose, M. Ayhan; Prasad, Eswar S.; Taylor, Ashley D. - 2009
The financial crisis has re-ignited the fierce debate about the merits of financial globalization and its implications for growth, especially for developing countries. The empirical literature has not been able to conclusively establish the presumed growth benefits of financial integration....
Persistent link: https://www.econbiz.de/10003831857
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Financial development, environmental quality, trade and economic growth : what causes what in MENA countries
Omri, Anis; Daly, Saida; Rault, Christophe; Chaibi, Anissa - 2015
This paper examines the relationship between financial development, CO2 emissions, trade and economic growth using simultaneous-equation panel data models for a panel of 12 MENA countries over the period 1990-2011. Our results indicate that there is evidence of bidirectional causality between...
Persistent link: https://www.econbiz.de/10010488272
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Mental models in financial markets : how do experts reason about the pricing of climate risk?
Bauer, Rob; Gödker, Katrin; Smeets, Paul; Zimmermann, … - 2024
We investigate financial experts' beliefs about climate risk pricing and analyze how those beliefs influence stock return expectations. In a comprehensive survey, we elicit experts' beliefs using both structured and open-ended questions. We establish that most experts share the view that climate...
Persistent link: https://www.econbiz.de/10014535704
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Financial dependence, formal credit, and informal jobs : new evidence from Brazilian household data
Catão, Luis; Pagés, Carmen; Rosales, Maria Fernanda - 2009
This paper examines a much overlooked link between credit markets and formalization: since access to bank credit typically requires compliance with tax and employment legislation, firms are more likely to incur such formalization costs once bank credit is more widely available at lower cost; if...
Persistent link: https://www.econbiz.de/10003925244