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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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The Effect of Unemployment on Self-Reported Health and Mental Health in Greece from 2008 to 2013 : A Longitudinal Study Before and During the Financial Crisis
Drydakis, Nick - 2015
-reported health and mental health in Greece. The specifications suggest that unemployment results in lower health and the … periods of high unemployment, suggesting that the unemployment crisis in Greece is more devastating as it concerns more people …, women are more negatively affected by unemployment in relation to their health and mental health statuses than are men.Greece …
Persistent link: https://www.econbiz.de/10013031089
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Does Greater Inequality Lead to More Household Borrowing? New Evidence from Household Data
Coibion, Olivier - 2014
One suggested hypothesis for the dramatic rise in household borrowing that preceded the financial crisis is that low-income households increased their demand for credit to finance higher consumption expenditures in order to "keep up" with higherincome households. Using household level data on...
Persistent link: https://www.econbiz.de/10013059685
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Effects of Credit Supply on Unemployment and Inequality
Bandyopadhyay, Subhayu - 2016
The Great Recession, which was preceded by the financial crisis, resulted in higher unemployment and inequality. We propose a simple model where firms producing varieties face labor-market frictions and credit constraints. In the model, tighter credit leads to lower output, lower number of...
Persistent link: https://www.econbiz.de/10012987688
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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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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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Detecting Mortgage Delinquencies
Askitas, Nikos - 2012
Economic hardship is strongly reflected by the housing market. It is the concern of much research, but its analysis is often obstructed by insufficient lagged data. This paper evaluates search intensity for "hardship letter" from Google Insights to detect ensuing mortgage delinquencies. Such...
Persistent link: https://www.econbiz.de/10013114318
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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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Produce or Speculate? Asset Bubbles, Occupational Choice and Efficiency
Cahuc, Pierre - 2009
We study the macroeconomic effects of rational asset bubbles in an overlapping-generations economy where asset trading requires specialized intermediaries and where agents freely choose between working in the production or in the financial sector. Frictions in the market for deposits create...
Persistent link: https://www.econbiz.de/10013153172
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The Long Run Earnings Effects of a Credit Market Disruption
Adamopoulou, Effrosyni - 2020
years after the start of the crisis. We rely on a unique matched bank-employer-employee administrative dataset to construct …
Persistent link: https://www.econbiz.de/10012835271