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Macroeconomic policy, product market competition, and growth : the intangible investment channel

Ahn, JaeBin; Duval, Romain; Sever, Can - 2020

policy through the intangible investment channel, and its complementarity with pro-competition product market deregulation … vulnerable to financial frictions. By sheltering intangible investment from financial shocks, counter-cyclical macroeconomic … policy could strengthen longer-term growth, particularly so where strong product market competition prevents firms from self …

Persistent link: https://www.econbiz.de/10012170156

Entry costs and the macroeconomy

Gutiérrez Gallardo, Germán; Jones, Callum; Philippon, … - 2019

We combine a structural model with cross-sectional micro data to identify the causes and consequences of rising concentration in the US economy. Using asset prices and industry data, we estimate realized and anticipated shocks that drive entry and concentration. We validate our approach by...

Persistent link: https://www.econbiz.de/10012154591

Alternative Forms of Mineral Taxation, Market Failure and the Environment

Muzondo, Timothy R. - 1992

This paper examines the environmental effects of mineral taxes in a framework that recognizes the importance of rates and cumulative externalities and proposes an appropriate corrective tax. It concludes that mineral resources taxation should combine neutral taxes with a dynamic Pigovian type...

Persistent link: https://www.econbiz.de/10014396479

An overview of macroprudential policy tools

Claessens, Stijn - 2014

Macroprudential policies - caps on loan to value ratios, limits on credit growth and other balance sheets restrictions, (countercyclical) capital and reserve requirements and surcharges, and Pigouvian levies - have become part of the policy paradigm in emerging markets and advanced countries...

Persistent link: https://www.econbiz.de/10014411770

Explaining Unemployment in Spain : Structural Change, Cyclical Fluctuations, and Labor Market Rigidities

Franks, Jeffrey R. - 1994

Spain has the most serious and persistent unemployment problem in Europe, with an unemployment rate that reached 24.6 percent in early 1994. This paper explores the characteristics of this unemployment problem, its causes, and provides a brief discussion of recent labor market reform measures...

Persistent link: https://www.econbiz.de/10014398071

Exchange-rate dark matter

Evans, Martin D. D. - 2012

Persistent link: https://www.econbiz.de/10009572444

Business cycles in emerging markets : the role of durable goods and financial frictions

Alvarez, Fernando; Brandao Marques, Luis; Toledo, Manuel - 2011

Persistent link: https://www.econbiz.de/10009424779

Credit market imperfection and sectoral asymmetry of Chinese business cycle

Zhang, Yuanyan Sophia - 2011

Persistent link: https://www.econbiz.de/10009425655

Incomplete financial markets and the booming housing sector in China

Bayoumi, Tamim A.; Zhao, Yunhui - 2020

Housing is by far the most important asset in Chinese households' balance sheets. However, despite forceful and frequent government interventions, the rise in Chinese housing prices has not been contained as much as intended, a trend that has not been reversed by the COVID-19 shock. In this...

Persistent link: https://www.econbiz.de/10012485938

Labor market institutions and the cost of recessions

Krebs, Tom; Scheffel, Martin - 2017

This paper studies the effect of two labor market institutions, unemployment insurance (UI) and job search assistance (JSA), on the output cost and welfare cost of recessions. The paper develops a tractable incomplete-market model with search unemployment, skill depreciation during unemployment,...

Persistent link: https://www.econbiz.de/10011670426

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