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Business cycle effects of credit and technology shocks in a DSGE model with firm defaults
Pesaran, Hashem; Xu, TengTeng - 2011
This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined … between loan and deposit rates. The effects of the credit shock tend to be highly persistent even without price rigidities and …
Persistent link: https://www.econbiz.de/10010282516
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On the Stability of the German Beveridge Curve: A Spatial Econometric Perspective
Kosfeld, Reinhold; Dreger, Christian; Eckey, Hans-Friedrich - Institute for the Study of Labor (IZA) - 2006
In this paper, the framework of the aggregated Beveridge curve is used to investigate the effectiveness of the job matching process using German regional labour market data. For a fixed matching technology, the Beveridge curve postulates a negative relationship between the unemployment rate and...
Persistent link: https://www.econbiz.de/10005822642
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On the stability of the German Beveridge curve: a spatial econometric perspective
Kosfeld, Reinhold; Dreger, Christian; Eckey, Hans-Friedrich - 2006
In this paper, the framework of the aggregated Beveridge curve is used to investigate the effectiveness of the job matching process using German regional labour market data. For a fixed matching technology, the Beveridge curve postulates a negative relationship between the unemployment rate and...
Persistent link: https://www.econbiz.de/10010267528
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Downward Real Wage Rigidity and Equal Treatment Wage Contracts: Theory and Evidence
Snell, Andy; Stüber, Heiko; Thomas, Jonathan P. - 2018
Recent dynamic contracting models of downward real wage rigidity with "equal treatment" – newly hired workers cannot price themselves into jobs by undercutting incumbents – imply that real wages are relatively rigid in "bad" times but upwardly flexible during "good" times. We use an...
Persistent link: https://www.econbiz.de/10011873508
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Do SBA Loans Create Jobs?
Brown, J. David; Earle, John S. - Institute for the Study of Labor (IZA) - 2013
Small Business Administration (SBA) loans have long been one of the most significant policy interventions in the U.S. affecting firm behavior, but little is known about their outcomes. This paper estimates the effects on employment using a list of all SBA loans linked to annual data on all U.S....
Persistent link: https://www.econbiz.de/10010884334
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Finance and Growth at the Firm Level: Evidence from SBA Loans
Brown, J. David; Earle, John S. - 2015
lenders. The estimation results imply an increase of 3-4 jobs for each million dollars of loans, suggesting that credit … for the SBA 504 versus 7(a) programs, and with respect to the business cycle, local credit conditions, and within …
Persistent link: https://www.econbiz.de/10011307476
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Reputation and credit market formation: how relational incentives and legal contract enforcement interact
Fehr, Ernst; Zehnder, Christian - 2009
The evidence suggests that relational contracting and legal rules play an important role in credit markets but on the … relational incentives are a powerful causal determinant for the existence and performance of credit markets. In fact, in the … absence of legal enforcement and reputation formation opportunities the credit market breaks down almost completely while if …
Persistent link: https://www.econbiz.de/10010269410
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Do SBA Loans Create Jobs?
Brown, J. David; Earle, John S. - 2013
Small Business Administration (SBA) loans have long been one of the most significant policy interventions in the U.S. affecting firm behavior, but little is known about their outcomes. This paper estimates the effects on employment using a list of all SBA loans linked to annual data on all U.S....
Persistent link: https://www.econbiz.de/10010319511
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Mortgage Finance and Culture
Rodríguez-Planas, Núria - 2018
are most relevant when explaining individuals' decision to get a mortgage, but those regarding credit information matter …
Persistent link: https://www.econbiz.de/10011816588
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Reputation and Credit Market Formation: How Relational Incentives and Legal Contract Enforcement Interact
Fehr, Ernst; Zehnder, Christian - Institute for the Study of Labor (IZA) - 2009
The evidence suggests that relational contracting and legal rules play an important role in credit markets but on the … relational incentives are a powerful causal determinant for the existence and performance of credit markets. In fact, in the … absence of legal enforcement and reputation formation opportunities the credit market breaks down almost completely while if …
Persistent link: https://www.econbiz.de/10004976880