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The Evolving Functions and Organization of Finance Ministries
Allen, Richard - 2016
There is relatively little literature that analyses the role, functions, and organization of finance ministries. The purpose of this working paper is to review international experiences in this area, in an effort to formulate guiding principles of organizational design and the allocation of...
Persistent link: https://www.econbiz.de/10013002149
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Non-Financial Corporate Debt in Advanced Economies, 2010-17
Antoun de Almeida, Luiza - 2020
with an increase in short-term debt financing. Quantile regressions suggest that there is substantial heterogeneity among … firms on how they react to macro-financial conditions: large increases in long-term debt financing and large declines in … short-term debt financing tend to be driven more by better macroeconomic performance, while large increases in short …
Persistent link: https://www.econbiz.de/10012827582
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Finance and Employment in Developing Countries : The Working Capital Channel
Dao, Mai - 2017
We study the effect of external financing constraint on job creation in emerging markets and developing countries (EMDC … to illustrate how the need for working capital financing of a firm affects the link between financial constraint and the …
Persistent link: https://www.econbiz.de/10012947827
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Household Leverage and the Recession
Jones, Callum - 2018
We evaluate and partially challenge the 'household leverage' view of the Great Recession. In the data, employment and consumption declined more in states where household debt declined more. We study a model where liquidity constraints amplify the response of consumption and employment to changes...
Persistent link: https://www.econbiz.de/10012910353
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Foreign Banks : Trends, Impact and Financial Stability
Claessens, Stijn - 2012
This paper introduces a comprehensive database on bank ownership for 137 countries over 1995-2009, and reviews foreign bank behavior and impact. It documents substantial increases in foreign bank presence, with many more home and host countries. Current market shares of foreign banks average 20...
Persistent link: https://www.econbiz.de/10013116464
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What Determines Government Spending Multipliers?
Corsetti, Giancarlo - 2012
This paper studies how the effects of government spending vary with the economic environment. Using a panel of OECD countries, we identify fiscal shocks as residuals from an estimated spending rule and trace their macroeconomic impact under different conditions regarding the exchange rate...
Persistent link: https://www.econbiz.de/10013102258
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Appraising Credit Ratings : Does the CAP Fit Better than the ROC?
Irwin, R. John - 2012
ROC and CAP analysis are alternative methods for evaluating a wide range of diagnostic systems, including assessments of credit risk. ROC analysis is widely used in many fields, but in finance CAP analysis is more common. We compare the two methods, using as an illustration the ability of the...
Persistent link: https://www.econbiz.de/10013102283
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Structural Transformation and the Volatility of Aggregate Output in OECD Countries
Lonkeng Ngouana, Constant - 2013
This paper finds a negative relationship between the employment share of the service sector and the volatility of aggregate output in the OECD — after controlling for the level of financial development. This result reflects volatility differentials across sectors: labor productivity is more...
Persistent link: https://www.econbiz.de/10013085618
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Distributional Consequences of Fiscal Consolidation and the Role of Fiscal Policy : What Do the Data Say?
Woo, Jaejoon - 2013
The 2007-09 Great Recession has led to an unprecedented increase in public debt in many countries, triggering substantial fiscal adjustments. What are the distributional consequences of fiscal austerity measures? This is an important policy question. This paper analyzes the effects of fiscal...
Persistent link: https://www.econbiz.de/10013074693
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The Taxation of Financial Assets : A Survey of Issues and Country Experiences
Tanzi, Vito - 2006
Persistent link: https://www.econbiz.de/10012781951