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The Drivers of Revenue Productivity : A New Decomposition Analysis with Firm-Level Data
di Mauro, Filippo - 2017
countries and manufacturing industries over the period 2006-2012. In summary, patterns of measured revenue productivity have …-stressed countries (Belgium, Finland, France and Germany). In particular, measured revenue productivity drops for both groups by about 6 … productivity was accompanied by a substantial dip in the proxy we use for TFP in quantity terms, as well as by a strong reduction …
Persistent link: https://www.econbiz.de/10012963617
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Bank-Firm Relationships and the Survival of Non-Financial Firms During the Financial Crisis 2008-2009
Abildgren, Kim - 2013
Utilising a unique data set with annual accounts from around 37,000 Danish non-financial firms spanning almost one and a half decade, we offer microeconometric evidence on bankfirm relationships and the survival of firms during the financial crisis 2008-9. Within the framework of...
Persistent link: https://www.econbiz.de/10013086885
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Profit Dynamics Across the Largest Euro Area Countries and Sectors
Maurin, Laurent - 2011
This paper explores the behavior of profits in the four largest euro area countries (Germany, France, Italy and Spain) and the euro area as a whole, while at the same time considering three main sectors (manufacturing, construction and services) in each economy over the period 1988–2010. The...
Persistent link: https://www.econbiz.de/10013117688
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Trend-Cycle Decomposition of Output and Euro Area Inflation Forecasts : A Real-Time Approach Based on Model Combination
Guerin, Pierre - 2011
The paper focuses on the estimation of the euro area output gap. We construct model-averaged measures of the output gap in order to cope with both model uncertainty and parameter instability that are inherent to trend-cycle decomposition models of GDP. We first estimate nine models of...
Persistent link: https://www.econbiz.de/10013120226
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What Drives the Market Share Changes? Price versus Non-Price Factors
Benkovskis, Konstantins - 2014
The paper proposes a theoretical framework for explaining gains and losses in export market shares by considering both price and non-price determinants. Starting from a demand-side model à la Armington (1969), we relax several restrictive assumptions to evaluate the contribution of unobservable...
Persistent link: https://www.econbiz.de/10013059580
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A Note on Identification Patterns in DSGE Models
Andrle, Michal - 2021
This paper comments on selected aspects of identification issues of DSGE models. It suggests the singular value decomposition (SVD) as a useful tool for detecting local weak and non- identification. This decomposition is useful for checking rank conditions of identification, identification...
Persistent link: https://www.econbiz.de/10013316178
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What Drives Investors' Behaviour in Different FX Market Segments? A Var-Based Return Decomposition Analysis
Castren, Olli; Osbat, Chiara; Sydow, Matthias - 2021
We apply the Campbell-Shiller return decomposition to exchange rate returns and fundamentals in a stationary panel vector autoregression framework. The return decomposition is then used to analyse how different investor segments react to news as captured by the different return components. The...
Persistent link: https://www.econbiz.de/10013317302
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Informing Macroprudential Policy Choices Using Credit Supply and Demand Decompositions
Barbieri, Claudio; Couaillier, Cyril; Perales, Cristian; … - 2022
Macroprudential policies should strengthen the banking sector throughout the financial cycle. However, while bank credit growth is used to capture cyclical exuberance and calibrate buffer requirements, it depends on potentially heterogeneous dynamics on the borrower and lender side. By...
Persistent link: https://www.econbiz.de/10013403276
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Characterising the inflation targeting regime in South Korea
Sánchez, Marcelo - 2009
This paper attempts at characterising South Korean monetary policy in the period of explicit inflation targeting started in 1999. We explain Korean interest rates in relation to an estimated macro-model, assuming that monetary policy is set optimally. This allows us to obtain the central...
Persistent link: https://www.econbiz.de/10011605050
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Characterising the Inflation Targeting Regime in South Korea
Sanchez, Marcelo - 2009
This paper attempts at characterising South Korean monetary policy in the period of explicit inflation targeting started in 1999. We explain Korean interest rates in relation to an estimated macro-model, assuming that monetary policy is set optimally. This allows us to obtain the central bank's...
Persistent link: https://www.econbiz.de/10012765446