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Big Banks and Macroeconomic Outcomes : Theory and Cross-Country Evidence of Granularity
Bremus, Franziska - 2013
. Using this framework, we show conditions under which idiosyncratic shocks to bank lending can generate aggregate … sector for many countries is indeed granular, as the right tail of the bank size distribution follows a power law. We then … concentration is associated with a positive and significant relationship between bank-level credit growth and aggregate growth of …
Persistent link: https://www.econbiz.de/10012459568
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Does Management Matter in Schools
Bloom, Nicholas - 2014
outcomes. The UK, Sweden, Canada and the US obtain the highest management scores closely followed by Germany, with a gap to … Italy, Brazil and then finally India. We also show that autonomous government schools (i.e. government funded but with …
Persistent link: https://www.econbiz.de/10012457998
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Implications of Dynamic Factor Models for VAR Analysis
Stock, James H. - 2005
econometric issues are addressed including estimation of the number of dynamic factors and tests for the factor restrictions …
Persistent link: https://www.econbiz.de/10012467213
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Monetary Policy in a Data-Rich Environment
Bernanke, Ben - 2001
Most empirical analyses of monetary policy have been confined to frameworks in which the Federal Reserve is implicitly assumed to exploit only a limited amount of information, despite the fact that the Fed actively monitors literally thousands of economic time series. This article explores the...
Persistent link: https://www.econbiz.de/10012470341
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Peer Effects in European Primary Schools : Evidence from PIRLS
Ammermueller, Andreas - 2006
We estimate peer effects for fourth graders in six European countries. The identification relies on variation across classes within schools. We argue that classes within primary schools are formed roughly randomly with respect to family background. Similar to previous studies, we find sizeable...
Persistent link: https://www.econbiz.de/10012466488
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Regional Nonadjustment and Fiscal Policy : Lessons for EMU
Obstfeld, Maurice - 1999
pattern of the United States. In this paper we compare the US with Germany, Italy, the United Kingdom, and also with Canada …
Persistent link: https://www.econbiz.de/10012471641
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Global Fund Flows and Emerging Market Tail Risk
Chari, Anusha; Stedman, Karlye Dilts; Lundblad, Christian - National Bureau of Economic Research - 2022
Global risk and risk aversion shocks have distinct distributional impacts on emerging market capital flows and returns. In particular, we find salient consequences of these different global shocks for tail risk in emerging markets. Open-end mutual fund trading provides a key mechanism linking...
Persistent link: https://www.econbiz.de/10013435139
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Conditional PPP and Real Exchange Rate Convergence in the Euro Area
Bergin, Paul R. - 2016
While economic theory highlights the usefulness of flexible exchange rates in promoting adjustment in international relative prices, flexible exchange rates also can be a source of destabilizing shocks. We find that when countries joining the euro currency union abandoned their national exchange...
Persistent link: https://www.econbiz.de/10012456694
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Evaluation of the Reggio Approach to Early Education
Biroli, Pietro - 2017
We evaluate the Reggio Approach using non-experimental data on individuals from the cities of Reggio Emilia, Parma and Padova belonging to one of five age cohorts: ages 50, 40, 30, 18, and 6 as of 2012. The treated were exposed to municipally offered infant-toddler (ages 0-3) and preschool (ages...
Persistent link: https://www.econbiz.de/10012455291
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The 2014 Russia Shock and Its Effects on Italian Firms and Banks
Federico, Stefano; Marinelli, Giuseppe; Palazzo, Francesco - National Bureau of Economic Research - 2023
We study how a demand shock in an export market propagates to the exporting country's banking system. Using the dual shocks of sanctions and falling oil prices suffered by Russia in 2014, we investigate the effects on Italian firms and banks more exposed to the Russian market. This event implied...
Persistent link: https://www.econbiz.de/10014250188