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Macroeconomic Rates of Return of Public and Private Investment : Crowding-In and Crowding-Out Effects

Afonso, António; St. Aubyn, Miguel - 2009

macroeconomic effects of public and private investment through VAR analysis. From impulse response functions, we are able to assess … the extent of crowding-in or crowding-out of both components of investment. We also compute the associated macroeconomic … rates of return of public and private investment for each country. The results point mostly to the existence of positive …

Persistent link: https://www.econbiz.de/10014220513

The Feldstein-Horioka Fact

Giannone, Domenico; Lenza, Michele - 2021

investment rates observed in OECD countries. We find that once controlling for general equilibrium effects the saving …

Persistent link: https://www.econbiz.de/10013316585

The Feldstein-Horioka fact

Giannone, Domenico; Lenza, Michele - 2008

investment rates observed in OECD countries. We find that once controlling for general equilibrium effects the saving …

Persistent link: https://www.econbiz.de/10011604919

Investment, the cost of capital, and monetary policy in the nineties in France: a panel data investigation

Chatelain, Jean-Bernard; Tiomo, André - 2001

investment from 1990 to 1999 through the cost-of-capital and the cash-flow channels. We compare several specifications of neo …

Persistent link: https://www.econbiz.de/10011604152

The interest rate and credit channel in Belgium: an investigation with micro-level firm data

Butzen, Paul; Fuss, Catherine; Vermeulen, Philip - 2001

This paper investigates the effects of monetary policy on firms' investment behaviour. The analysis relies on a …. First, we estimate a reduced-form investment equation derived from the neo-classical model, augmented by cash flow. This …

Persistent link: https://www.econbiz.de/10011604153

Firms' investment decisions in response to demand and price uncertainty

Fuss, Catherine; Vermeulen, Philip - 2004

We estimate the effect of demand and price uncertainty on firms’ investment decisions from a panel of manufacturing … investment, while price uncertainty is insignificant. This is consistent with the behavior of monopolistic firms with … irreversible capital (Caballero, 1991). Further, firms revise their investment plans very little. They may do so in response to new …

Persistent link: https://www.econbiz.de/10011604393

Geopolitical risk shocks: When the size matters

Brignone, Davide; Gambetti, Luca; Ricci, Martino - 2024

In this paper, we investigate the presence of non-linearities in the transmission of geopolitical risk (GPR) shocks. Our methodology involves incorporating a non-linear function of the identified shock into a VARX model and examining its impulse response functions and historical decomposition....

Persistent link: https://www.econbiz.de/10015199529

Identification of systematic monetary policy

Hack, Lukas; Istrefi, Klodiana; Meier, Matthias - 2023

We propose a novel identification design to estimate the causal effects of systematic monetary policy on the propagation of macroeconomic shocks. The design combines (i) a time-varying measure of systematic monetary policy based on the historical composition of hawks and doves in the Federal...

Persistent link: https://www.econbiz.de/10014543651

Crowding-Out or Co-Existence? The Competitive Position of EU Members and China in Global Merchandise Trade

Benkovskis, Konstantins - 2014

In this paper, we analyse export competition between individual EU Member States and China in third-country goods markets. We find that competitive pressure from China is strongest for small and peripheral EU members, especially for the Southern periphery, Ireland and Central, Eastern and...

Persistent link: https://www.econbiz.de/10013062212

The life-cycle dynamics of wealth mobility

Audoly, Richard; McGee, Rory; Ocampo Díaz, Sergio; Paz … - 2024

We use 25 years of tax records for the Norwegian population to study the mobility of wealth over people's lifetimes. We find considerable wealth mobility over the life cycle. To understand the underlying mobility patterns, we group individuals with similar wealth rank histories using...

Persistent link: https://www.econbiz.de/10015199545