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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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The German Manufacturing Sector is a Granular Economy
Wagner, Joachim - 2011
Using the approach suggested by Gabaix (Econometrica 2011) this paper demonstrates that idiosyncratic shocks in the largest firms are important for an understanding of aggregate volatility in German manufacturing industries. The implications of this finding for theoretical and empirical research...
Persistent link: https://www.econbiz.de/10013118054
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The Long-Run Effects of Recessions on Education and Income
Stuart, Bryan A. - 2019
This paper examines the long-run effects of the 1980-1982 recession on education and income. Using confidential Census data, I estimate difference-in-differences regressions that exploit variation across counties in recession severity and across cohorts in age at the time of the recession. For...
Persistent link: https://www.econbiz.de/10012867978
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Long-Term Effects of Recession on Parenthood Gender Inequality
Kim, Jinyoung; Kwak, Eunhye - 2023
This study identifies a new mechanism to account for the persistent gender differences in earnings after childbirth. Aside from women's voluntary wage cuts in pursuit of family-friendly job amenities, we claim that adverse labor market conditions at the time of childbearing widen the gender gap...
Persistent link: https://www.econbiz.de/10014355489
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Macroeconomic Volatilities and the Labor Market : First Results from the Euro Experiment
Merkl, Christian - 2010
This paper analyzes the effects of different labor market institutions on inflation and output volatility. The eurozone offers an unprecedented experiment for this exercise: since 1999, no national monetary policies have been implemented that could account for volatility differences across...
Persistent link: https://www.econbiz.de/10013143682
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Does the Community Reinvestment Act Increase Small Business Lending in Lower Income Neighborhoods?
Kim, Mee Jung; Lee, Kyung Min; Earle, John S. - 2022
We estimate the impact of the Community Reinvestment Act (CRA) on small business lending in lower-income neighborhoods. Using 2004-2016 panel data on census tracts, we apply a combined regression discontinuity and fixed effect method. We find that the number of small business loans increases by...
Persistent link: https://www.econbiz.de/10013406859
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Business Cycle Effects of Credit and Technology Shocks in a DSGE Model with Firm Defaults
Pesaran, M. Hashem - 2011
This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle dynamics, where firms rely on banks and households for capital financing. Firms are identical ex ante but differ ex post due to different realizations of firm specific technology...
Persistent link: https://www.econbiz.de/10013119292
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Business Cycle Effects of Credit and Technology Shocksin a DSGE Model with Firm Defaults
Pesaran, M. Hashem; Xu, TengTeng - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2011
This paper proposes a theoretical framework to analyze the impacts of credit and technologyshocks on business cycle dynamics, where firms rely on banks and households for capitalfinancing. Firms are identical ex ante but differ ex post due to different realizations of firmspecific technology...
Persistent link: https://www.econbiz.de/10009522213
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Trust in Public Institutions Over the Business Cycle
Stevenson, Betsey - 2011
We document that trust in public institutions ﾖ and particularly trust in banks, business and government ﾖ has declined over recent years. U.S. time series evidence suggests that this partly reflects the pro-cyclical nature of trust in institutions. Cross-country comparisons reveal a clear...
Persistent link: https://www.econbiz.de/10013128218
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Employment Adjustment Over the Business Cycle : The Impact of Competition in the Labor Market
Webber, Douglas A. - 2018
this decline in labor market competition cost workers about 4 percent in lost earnings. I also find evidence that …
Persistent link: https://www.econbiz.de/10012908882