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Economic Conditions and Japanese Firm Financing

Yamashiro, Guy; Uesugi, Iichiro - In: Economics Bulletin 5 (2006) 12, pp. 1-17

This paper investigates the role played by non-financial firms in Japanese corporate financing. We find that non-financial firms are an important source of credit for both small and large firms in Japan. We also document that adverse real and financial shocks have similar effects on small and...

Persistent link: https://www.econbiz.de/10005094702

Currency Area and Non-synchronized Business Cycles between the US and Puerto Rico

Sobrino, Cesar; Heath, Ellis - In: Economics Bulletin 33 (2013) 3, pp. 1948-1958

Frankel and Rose (1997, 1998) state that greater intensity of trading leads to more highly correlated business cycles across countries. Since 2005 Puerto Rico, which belongs to the US currency area, has suffered from economic stagnation. This raises the issue of whether currency areas lead to...

Persistent link: https://www.econbiz.de/10010681099

Inventory Investment Dynamics and Recoveries: A Comparison of Manufacturing and Retail Trade Sectors

Bec, Frederique; Bessec, Marie - In: Economics Bulletin 33 (2013) 3, pp. 2209-2222

inventories could in turn explain the GDP growth bounce-back pointed out in previous empirical studies. This calls for a careful …

Persistent link: https://www.econbiz.de/10010691435

Letting the speculative and the news views of the Japanese business cycle compete

Karnizova, Lilia - In: Economics Bulletin 33 (2013) 2, pp. 1146-1158

This note uses a dynamic stochastic general equilibrium model with direct preferences for financial wealth to explore how stock price booms and busts relate to the real side of the economy. It evaluates the 'speculative' (sunspots) and 'news' (anticipated future changes in productivity)...

Persistent link: https://www.econbiz.de/10010658620

Economic Conditions and Japanese Firm Financing

Yamashiro, Guy; Uesugi, Iichiro - In: Economics Bulletin 5 (2006) 12, pp. 1-17

Persistent link: https://www.econbiz.de/10010629630

Stylized Facts of Prices and Interest Rates over the Business Cycle

Konstantakopoulou, Ioanna; Tsionas, Eftymios; … - In: Economics Bulletin 29 (2009) 4, pp. 2613-2627

This paper investigates the stylized facts of prices and interest rates over the business cycles in nine OECD countries using quarterly data from 1960 to 2004. We examine the stylized facts used various detrending methods. Our findings confirm the existence of substantive cyclical regularities...

Persistent link: https://www.econbiz.de/10008562859

Income distribution changes across the 1990s expansion: the role of taxes and transfers

Camacho, Maximo; Galiano, Aida - In: Economics Bulletin 29 (2009) 4, pp. 3177-3185

We analyze the redistributive role played by governments during the 1990s expansionary economic cycle in several OECD countries. We find a duality among countries: while governments in the Euro-area play a crucial role in the redistributive process, government interventions reduce the...

Persistent link: https://www.econbiz.de/10008563074

Growth, inflation, interest rate and informality: Panel VAR evidence from OECD Economies

Ergene, Salim - In: Economics Bulletin 35 (2015) 1, pp. 750-763

This paper attempts to examine empirically the dynamic relationship between inflation, growth and interest rate under … has a negative impact on both growth and the size of the informal activities, while inflation does not have a significant … effect on them. The influence of interest rate on growth and the size of the informal economy is found to be robust to VAR …

Persistent link: https://www.econbiz.de/10011212874

Factors of R&D spillovers and European integration

Rondeau, Fabien; Pommier, Sébastien - In: Economics Bulletin 32 (2012) 3, pp. 1970-1977

We investigate factors of total factor productivity (TFP) interdependencies in a sample of 19 OECD countries for the period 1981-2009. Rolling cointegration relationships are estimated between TFP's level in order to measure productivity interdependencies across countries and over time. Besides...

Persistent link: https://www.econbiz.de/10011278515

The Internal-External Debt Ratio and Economic Growth

Efthimiadis, Tilemahos; Tsintzos, Panagiotis - In: Economics Bulletin 32 (2012) 1, pp. 941-951

In this paper we examine the effects of the ratio of internal to external public debt on a country's economic growth …. These effects are examined through a competitive, decentralized model of endogenous economic growth, which relies on public … increases which in turn positively affects the long run economic growth rate. The main conclusion of this paper is that the out …

Persistent link: https://www.econbiz.de/10011278666