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Can Unemployment Insurance Spur Entrepreneurial Activity?
Hombert, Johan - 2014
We study a large-scale French reform that provided generous downside insurance for unemployed individuals starting a … business. We study whether this reform affects the composition of people who are drawn into entrepreneurship. New firms started … in response to the reform are, on average, smaller, but have similar growth expectations and education levels compared to …
Persistent link: https://www.econbiz.de/10013043273
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The Continued Interest Rate Vulnerability of Thrifts
Hendershott, Patric H. - 2009
The 1980s S&L debacle is generally viewed as the result of: (1) sharply rising interest rates eliminating the net worth of thrifts funding fixed-rate loans with short-term deposits and (2) thrifts responding by taking even greater interest-rate and credit risks. The question investigated in this...
Persistent link: https://www.econbiz.de/10013155885
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Real Interest Rates and the Savings and Loan Crisis : the Moral Hazard Premium
Shoven, John B. - 2008
Real interest rates rose to historically high levels in 1980 and remained high throughout the decade. Macroeconomists attribute this phenomenon to a combination of tight monetary policy, fiscal deficits, and variable inflation rates. This paper presents preliminary evidence for an additional...
Persistent link: https://www.econbiz.de/10012774767
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Who Panics During Panics? Evidence from a Nineteenth Century Savings Bank
O'Grada, Cormac; White, Eugene N. - 2021
Using records of the bank accounts of individual depositors, this paper provides a detailed microeconomic analysis of two nineteenth century banking panics. The panics of 1854 and 1857 were not characterized by an immediate mass panic of depositors and had important time dimensions. We examine...
Persistent link: https://www.econbiz.de/10013212881
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Who Should Learn What from the Failure and Delayed Bailout of the Odgf?
Kane, Edward J. - 2021
In March 1985, the failure of the Ohio Deposit Guarantee Fund (the ODGF) sent shock waves reverberating through the financial world. This episode is popularly interpreted as evidence of the dangers of both private deposit insurance and continuing financial deregulation. This paper argues that...
Persistent link: https://www.econbiz.de/10013243455
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Did France Cause the Great Depression?
Irwin, Douglas A. - 2010
initiated the downturn, France increased its share of world gold reserves from 7 percent to 27 percent between 1927 and 1932 and … and world prices had continued. The results indicate that France was somewhat more to blame than the United States for the …
Persistent link: https://www.econbiz.de/10013138318
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Disability and Social Security Reforms : The French Case
Behaghel, Luc - 2011
The French pattern of early transitions out of employment is basically explained by the low age at "normal" retirement and by the importance of transitions through unemployment insurance and early-retirement schemes before access to normal retirement. These routes have exempted French workers...
Persistent link: https://www.econbiz.de/10013125161
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Housing Dynamics Over the Business Cycle
Kydland, Finn - 2012
Over the U.S. business cycle, fluctuations in residential investment are well known to systematically lead GDP. These dynamics are documented here to be specific to the U.S. and Canada. In other developed economies residential investment is broadly coincident with GDP. Nonresidential investment...
Persistent link: https://www.econbiz.de/10013099826
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Cherries for Sale : Export Networks and the Incidence of Cross-Border M&A
Blonigen, Bruce A. - 2012
This paper develops a dynamic model of cross-border M&A activity. We show that foreign firms will be relatively more attracted to targets in the domestic country that had high productivity levels several years prior to acquisition, but then suffered a negative productivity shock (i.e., cherries...
Persistent link: https://www.econbiz.de/10013100356
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Energy Production and Health Externalities : Evidence from Oil Refinery Strikes in France
Lavaine, Emmanuelle - 2013
refineries in France as a natural experiment. First, we show that the temporary reduction in refining lead to a significant …
Persistent link: https://www.econbiz.de/10013083097