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Uncertainty and Investment : The Financial Intermediary Balance Sheet Channel
Chen, Sophia - 2015
-sided model in which a bank simultaneously lends to a firm and borrows from the short-term funding market. When the bank is …
Persistent link: https://www.econbiz.de/10013024428
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Is Capping Executive Bonuses Useful?
Asai, Kentaro - 2017
are only effective when bank executives' mobility is restricted. It also suggests, irrespective of the degree of labor … market mobility, bonus caps simultaneously reduce risk shifting by bank executives (too much risk taking because of limited … liability), but aggravate underinvestment (bank executives foregoing risky but productive projects). Hence, the welfare effects …
Persistent link: https://www.econbiz.de/10012950435
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Assessing DSGE Models with Capital Accumulation and Indeterminacy
Khramov, Vadim - 2012
The simulated results of this paper show that New Keynesian DSGE models with capital accumulation can generate substantial persistencies in the dynamics of the main economic variables, due to the stock nature of capital. Empirical estimates on U.S. data from 1960:I to 2008:I show the response of...
Persistent link: https://www.econbiz.de/10013106743
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Investment-Led Growth in China : Global Spillovers
Ahuja, Ashvin - 2012
Over the past decade, China's growth model has become more reliant on investment and its footprint in global imports has widened substantially. Several economies within China's supply chain are increasingly exposed to its investment-led growth and face growing risks from a deceleration in...
Persistent link: https://www.econbiz.de/10013096278
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The Spillover Effects of a Downturn in China's Real Estate Investment
Ahuja, Ashvin - 2012
Real estate investment accounts for a quarter of total fixed asset investment (FAI) in China. The real estate sector's extensive industrial and financial linkages make it a special type of economic activity, especially where the credit creation process relies primarily on collateral, like in...
Persistent link: https://www.econbiz.de/10013097279
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Factor Endowment, Structural Coherence, and Economic Growth
Che, Natasha Xingyuan - 2012
This paper studies the linkage between structural coherence and economic growth. Structural coherence is defined as the degree that a country's industrial structure optimally reflects its factor endowment fundamentals. The paper found that at least for the overall capital, the shares of capital...
Persistent link: https://www.econbiz.de/10013098637
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The Volatility Trap : Precautionary Saving, Investment, and Aggregate Risk
Cherif, Reda - 2012
We study the effects of permanent and temporary income shocks on precautionary saving and investment in a "store-or-sow" model of growth. High volatility of permanent shocks results in high precautionary saving in the safe asset and low investment, or a "volatility trap." Namely, big savers...
Persistent link: https://www.econbiz.de/10013102269
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Capital Inflows, Financial Development, and Domestic Investment : Determinants and Inter-Relationships
Luca, Oana - 2012
We examine determinants of, and interactions between, capital inflows, financial development, and domestic investment in developing countries during 2001-07, a period of surging global liquidity and low interest rates. Reductions in the global price of risk and in domestic borrowing costs were...
Persistent link: https://www.econbiz.de/10013102284
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Determinants of Corporate Investment in China : Evidence from Cross-Country Firm Level Data
Geng, Nan - 2012
This paper analyzes the evolution of investment in China, its main features, and its key determinants. In recent years, manufacturing, real estate, and infrastructure have been the main drivers of investment. Investment remains largely concentrated in coastal areas, but there has been a shift to...
Persistent link: https://www.econbiz.de/10013106748
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Asymmetric Effects of the Financial Crisis : Collateral-Based Investment-Cash Flow Sensitivity Analysis
Khramov, Vadim - 2012
This paper uses the financial crisis of 2008 as a natural experiment to demonstrate that when measuring investment-cash flow sensitivity, the value of a firm's assets that can be used as collateral should be taken into account. Using panel data on U.S. firms from 1990 to 2011, it was found that...
Persistent link: https://www.econbiz.de/10013107070