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Asymmetric Labor Market Institutions in the Emu and the Volatility of Inflation and Unemployment Differentials
Abbritti, Mirko - 2012
How does the asymmetry of labor market institutions affect the adjustment of a currency union to shocks? To answer this question, this paper sets up a dynamic currency union model with monopolistic competition and sticky prices, hiring frictions and real wage rigidities. In our analysis, we...
Persistent link: https://www.econbiz.de/10013107467
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The Role of the Exchange Rate Regime in the Process of Real and Nominal Convergence
D'Adamo, Gaetano - 2013
During the last decade, economists have intensively searched for evidence on the importance of the Balassa-Samuelson (B-S) hypothesis in explaining nominal convergence. One general result is that B-S can at best explain only part of the excess inflation observed in the European catching-up...
Persistent link: https://www.econbiz.de/10013074886
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Interest Rate Bands of Inaction and Play-Hysteresis in Domestic Investment : Evidence for the Euro Area
Belke, Ansgar Hubertus - 2019
. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank …
Persistent link: https://www.econbiz.de/10012863789
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Recovery Performance of Primary Agriculture Credit Societies in India : An Assessment
Mazumder, Rabin - 2014
Bank of India in collaboration with State Governments …
Persistent link: https://www.econbiz.de/10013051022
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Repayment Versus Investment Conditions and Exclusivity in Lending Contracts
Bougheas, Spiros - 2010
Lenders condition future loans on some index of past performance. Typically, banks condition future loans on repayments of earlier obligations whilst international organizations (official lenders) condition future loans on the implementation of some policy action ('investment'). We build an...
Persistent link: https://www.econbiz.de/10013149943
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Are Entrepreneurs Aware of Covered Interest Parity and Dollar Shortage?
Nariman, Farhad; Heshmati, Almas - 2022
). CIP can be viewed as a reflection of the shadow price of a bank s balance sheet, which reflects how risky the situation is … the broad dollar index. Since 2008, the broad dollar index has been used as an indicator of a bank s risk appetite. This …
Persistent link: https://www.econbiz.de/10013406442
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Financial Crises and Liberalization : Progress or Reversals?
Saka, Orkun - 2019
Financial crisis can trigger policy reversals, i.e. they can lead to a process of re- regulation of financial markets. Using a recent comprehensive dataset on financial liberalization across 94 countries for the period between 1973 and 2015, we formally test the validity of this prediction for...
Persistent link: https://www.econbiz.de/10012868012
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How Successful are Banking Sector Reforms in Emerging Market Economies? Evidence from Impact of Monetary Policy on Levels and Structures of Firm Debt in India
Bhaumik, Sumon K. - 2016
that well-functioning credit markets would reflect a bank channel for monetary policy at work, we test whether a change in … and the associated change in interest rate does not affect change in bank credit, change in total debt and the proportion … of bank credit in total debt for any of the firms. We discuss the policy implications of the findings …
Persistent link: https://www.econbiz.de/10012988130
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External Monetary Shocks and Monetary Integration : Evidence from the Bulgarian Currency Board
Minea, Alexandru; Rault, Christophe - 2021
Starting July the 1st 1997, Bulgaria adopted a Currency Board (CB) monetary system. This paper aims at investigating if the adoption of the CB monetary system, which involves the cost of loosing monetary autonomy, has provided a relatively better (with respect to other CEEC) monetary integration...
Persistent link: https://www.econbiz.de/10013315999
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Heterogeneous Effects of Credit Constraints on Smes' Employment : Evidence from the Great Recession
Cornille, David - 2018
This paper takes advantage of access to detailed matched bank-firm data to investigate whether and how employment …
Persistent link: https://www.econbiz.de/10012929109