Narrow search
Showing 1 - 10 of 91
Cover Image
Liquidity, inflation and asset prices in a time-varying framework for the euro area
Baumeister, Christiane; Durinck, Eveline; Peersman, Gert - 2008
In this paper, we investigate how the dynamic effects of excess liquidity shocks on economic activity, asset prices and … inflation differ over time. We show that the impact varies considerably over time, depends on the source of increased liquidity …
Persistent link: https://www.econbiz.de/10011506663
Cover Image
How does liquidity react to stress periods in a limit order market?
Beltran, Helena; Durré, Alain; Giot, Pierre - 2004
This paper looks at the interplay of volatility and liquidity on the Euronext trading platform during the December 2 …-traded stocks on Euronext, we study the ex-ante liquidity vs volatility and ex-post liquidity vs volatility relationships to … ascertain if the high volatility led to decreases in liquidity and large trading costs. We show that the provision of liquidity …
Persistent link: https://www.econbiz.de/10011506571
Cover Image
Fiscal policy, banks and the financial crisis
Kollmann, Robert; Ratto, Marco; Roeger, Werner; in't … - 2012
This paper studies the effectiveness of Euro Area (EA) fiscal policy, during the recent financial crisis, using an estimated New Keynesian model with a bank. A key dimension of policy in the crisis was massive government support for banks—that dimension has so far received little attention in...
Persistent link: https://www.econbiz.de/10011506754
Cover Image
Fiscal policy and TFP in the OECD: Measuring direct and indirect effects
Everaert, Gerdie; Heylen, Freddy; Schoonackers, Ruben - 2014
This paper analyzes the direct and indirect effects of fiscal policy on total factor productivity (TFP) in a panel of OECD countries over the period 1970-2012. Our contribution is twofold. First, when estimating the impact of fiscal policy on TFP from a production function approach, we identify...
Persistent link: https://www.econbiz.de/10011506794
Cover Image
Comparing fiscal multipliers across models and countries in Europe
Kilponen, Juha; Pisani, Massimiliano; Schmidt, Sebastian; … - 2015
of the economy such as the share of liquidity-constrained households change, and the endogenous fiscal rule that ensures …
Persistent link: https://www.econbiz.de/10011506798
Cover Image
Can Excess Liquidity Signal an Asset Price Boom?
Bruggeman, Annick - 2007
This paper analyses the relationship between the prevailing liquidity conditions (such as measures of money, credit and … sustained excess liquidity, we analyse under which conditions they are more likely to be followed by an asset price boom. The … periods of sustained excess liquidity that are accompanied by strong economic activity, low interest rates, high real credit …
Persistent link: https://www.econbiz.de/10011506638
Cover Image
Monetary aggregates and liquidity in a neo-Wicksellian framework
Canzoneri, Matthew; Cumby, Robert; Diba, Behzad; … - 2008
-Wicksellian model and then adds banks and a role for bonds in the liquidity management of households and banks. The Banks and Bonds …
Persistent link: https://www.econbiz.de/10011506662
Cover Image
Governance as a source of managerial discipline
Franks, Julian; Mayer, Colin - 2002
Anglo-American stock markets are much larger than their continental counterparts. Does investor protection and governance explain these differences? Using UK data, we examine four different forms of intervention which are suppose to promote good governance: takeovers, independent directors,...
Persistent link: https://www.econbiz.de/10011506553
Cover Image
Investment, R&D and liquidity constraints: A corporate governance approach to the Belgian evidence
Van Cayseele, Pr. D. Patrick - 2002
In this contribution, we present a novel instrument to control for investment opportunities in studying the investment-cash-flow sensitivity. More in particular we introduce the book value of R&D. We argue this instrument has advantages over other theories of investment, especially when...
Persistent link: https://www.econbiz.de/10011506555
Cover Image
Inflation dynamics with labour market matching: assessing alternative specifications
Christoffel, Kai; Costain, James; de Walque, Gregory; … - 2009
This paper reviews recent approaches to modeling the labour market, and assesses their implications for inflation dynamics through both their effect on marginal cost and on price-setting behavior. In a search and matching environment, we consider the following modeling setups: right-to-manage...
Persistent link: https://www.econbiz.de/10011506684