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Personal bankruptcy law, wealth and entrepreneurship : theory and evidence from the introduction of a "fresh start"
Fossen, Frank M. - 2011
entrepreneurship. -- personal bankruptcy law ; insolvency ; entrepreneurship ; fresh start …
Persistent link: https://www.econbiz.de/10009126032
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Reflections on the US college loans system : lessons from Australia and England
Barr, Nicholas A.; Chapman, Bruce James; Dearden, Lorraine - 2018
There is wide agreement the US student loan system faces significant problems. Seven million borrowers are in default …
Persistent link: https://www.econbiz.de/10011820067
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Interest rate hysteresis in macroeconomic investment under uncertainty
Belke, Ansgar; Göcke, Matthias - 2019
The interest rate is generally considered as an important driver of macroeconomic investment. As an innovation, this paper derives the exact shape of the "hysteretic" impact of changes in the interest rate on macroeconomic investment under the scenarios of both certainty and uncertainty. We...
Persistent link: https://www.econbiz.de/10012099522
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Fiscal policy, interest rate spreads, and the zero lower bound
Bredemeier, Christian; Jüßen, Falko; Schabert, Andreas - 2015
This paper questions unconventional fiscal policy effects when the monetary policy rate is at the zero lower bound. We provide evidence for the US that the spread between the policy rate and the US-LIBOR, which is more relevant for private sector transactions, increases with government...
Persistent link: https://www.econbiz.de/10010510610
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Distributional effects of monetary policy in emerging market economies
Prasad, Eswar S.; Zhang, Boyang - 2015
We develop a two-sector, heterogeneous-agent model with incomplete financial markets to study the distributional effects and aggregate welfare implications of alternative monetary policy rules in emerging market economies. Relative to inflation targeting, exchange rate management benefits...
Persistent link: https://www.econbiz.de/10011309046
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The impact of COVID-19 on small business owners : evidence of early-stage losses from the April 2020 Current Population Survey
Fairlie, Robert W. - 2020
Social distancing restrictions and demand shifts from COVID-19 are expected to shutter many small businesses, but there is very little early evidence on impacts. This paper provides the first analysis of impacts of the pandemic on the number of active small businesses in the United States using...
Persistent link: https://www.econbiz.de/10012228573
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Consumer debt and default : a macro perspective
Exler, Florian; Tertilt, Michele - 2020
In this survey, we review the quantitative macroeconomic literature analyzing consumer debt and default. We start by … has by now become the workhorse model of consumer credit and default. We discuss a quantitative version of the model and … use it to decompose the main reasons for default. We also use the model to illustrate how the details of default costs …
Persistent link: https://www.econbiz.de/10012171050
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Households debt restructuring : the re-default effect of a debt suspension
Fraisse, Henri - 2017
filings to managers, we show that a debt suspension has a very significant and negative effect on the likelihood to re-default …
Persistent link: https://www.econbiz.de/10011732088
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Bubble economics and structural change : the cases of Spain and France compared
Agnese, Pablo; Hromcová, Jana - 2015
This paper delves into the recent events that led to the formation of the housing bubble in Spain and the resulting structural change that is arguably needed to put the economy back into the right track. For this purpose we calibrate a model with different equilibria descriptive of the labor...
Persistent link: https://www.econbiz.de/10010502798
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Interest rate bands of inaction and play-hysteresis in domestic investment : evidence for the Euro area
Belke, Ansgar; Frenzel Baudisch, Coletta; Göcke, Matthias - 2019
The interest rate represents an important monetary policy tool to steer investment in order to reach price stability. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank's effectiveness in a low interest rate environment...
Persistent link: https://www.econbiz.de/10012099559