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Towards Expenditure Rules and Fiscal Sanity in the Euro Area
Hauptmeier, Sebastian - 2010
The study looks at primary expenditure developments in the euro area, its three largest members and four “macro-imbalances” countries for the period 1999-2009. It compares actual expenditure trends with those that would have prevailed if countries had followed neutral policies based on...
Persistent link: https://www.econbiz.de/10013136395
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Loan Types and the Bank Lending Channel
Ivashina, Victoria - 2020
Using credit-registry data for Spain and Peru, we document that four main types of commercial credit—asset-based loans …
Persistent link: https://www.econbiz.de/10012834089
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The Dynamic Behaviour of Budget Components and Output
Claeys, Peter - 2007
budget balance in France, Germany, Portugal, and Spain. We try to uncover past trends behind the development of public …
Persistent link: https://www.econbiz.de/10012776609
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Price Setting in the Euro Area : Some Stylised Facts from Individual Producer Price Data
Vermeulen, Philip - 2007
This paper documents producer price setting in 6 countries of the euro area: Germany, France, Italy, Spain, Belgium and …
Persistent link: https://www.econbiz.de/10012777759
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The Financial Transmission of Housing Bubbles : Evidence from Spain
Martin, Alberto - 2019
How do housing bubbles affect other economic sectors? We show that in the presence of collateral constraints, a bubble initially raises housing credit demand and crowds out credit to non-housing firms. If the bubble lasts, however, housing credit repayments raise banks' net worth and expand...
Persistent link: https://www.econbiz.de/10012891798
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Sticky Information Phillips Curves : European Evidence
Döpke, Jörg - 2008
We estimate the sticky information Phillips curve model of Mankiw and Reis (2002) using survey expectations of professional forecasters from four major European economies. Our estimates imply that inflation expectations in France, Germany and the United Kingdom are updated about once a year, in...
Persistent link: https://www.econbiz.de/10012770725
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The Financial and Macroeconomic Effects of OMT Announcements
Altavilla, Carlo - 2014
France, Germany, Italy, and Spain. The scenario analysis suggests that the reduction in bond yields due to OMT announcements … is associated with a significant increase in real activity, credit, and prices in Italy and Spain with relatively muted …
Persistent link: https://www.econbiz.de/10013051170
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The Effect of Macroeconomic Uncertainty on Household Spending
Coibion, Olivier; Georgarakos, Dimitris; Gorodnichenko, … - 2021
Using a new survey of European households, we study how exogenous variation in the macroeconomic uncertainty perceived by households affects their spending decisions. We use randomized information treatments that provide different types of information about the first and/or second moments of...
Persistent link: https://www.econbiz.de/10013225751
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Credit Supply : Identifying Balance-Sheet Channels with Loan Applications and Granted Loans
Jiménez, Gabriel - 2010
all loans granted in Spain. We find that during the period analyzed both worse economic and tighter monetary conditions …
Persistent link: https://www.econbiz.de/10013144899
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A Twin Crisis With Multiple Banks of Issue : Spain in the 1860s
Moro, Alessio - 2013
We document the twin crisis that affected Spain in the mid-1860s. First, we trace back its origins to the international … crisis of 1864-66. Next, we describe the particular banking sector of Spain, characterized by the coexistence of the Bank of … Spain with multiple local banks of issue. We analyze the microeconomic behavior of each bank in response to the crisis and …
Persistent link: https://www.econbiz.de/10013080476