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Capital Goods Prices, Global Capital Markets and Accumulation : 1870-1950

Collins, William J. - 1999

variety of tests for world financial capital market integration ranging from the correlation of saving and investment …

Persistent link: https://www.econbiz.de/10012471649

Financial Frictions, Investment and Tobin's q

Lorenzoni, Guido - 2007

We develop a model of investment with financial constraints and use it to investigate the relation between investment … between q and investment, relative to the frictionless benchmark. We present a calibrated version of the model, which, due to … this effect, generates realistic correlations between investment, q, and cash flow …

Persistent link: https://www.econbiz.de/10012465562

Financial Market Shocks and the Macroeconomy

Subrahmanyam, Avanidhar - 2013

Feedback from stock prices to cash flows occurs because information revealed by firms' stock prices influences the actions of competitors. We explore the implications of feedback within a noisy rational expectations setting with incumbent publicly traded firms and privately held new entrants. In...

Persistent link: https://www.econbiz.de/10012459278

Asset Price Bubbles and Systemic Risk

Brunnermeier, Markus K. - 2019

We analyze the relationship between asset price bubbles and systemic risk, using bank-level data covering almost thirty …

Persistent link: https://www.econbiz.de/10012479725

Capital Flows, Consumption Booms and Asset Bubbles : A Behavioural Alternative to the Savings Glut Hypothesis

Laibson, David - 2010

savings glut there should have been a large investment boom in the countries that imported capital. Instead, those countries … experienced consumption booms. National asset bubbles explain the international imbalances. The bubbles raised consumption …

Persistent link: https://www.econbiz.de/10012462896

Does Expansionary Monetary Policy Cause Asset Price Booms; Some Historical and Empirical Evidence

Bordo, Michael D. - 2013

In this paper we investigate the relationship between loose monetary policy, low inflation, and easy bank credit with asset price booms. Using a panel of up to 18 OECD countries from 1920 to 2011 we estimate the impact that loose monetary policy, low inflation, and bank credit has on house,...

Persistent link: https://www.econbiz.de/10012459076

What Explains House Price Booms? : History and Empirical Evidence

Bordo, Michael D. - 2013

In this paper we investigate the relationship between loose monetary policy, low inflation, and easy bank credit with house price booms. Using a panel of 11 OECD countries from 1920 to 2011 we estimate a panel VAR in order to identify shocks that can be interpreted as loose monetary policy...

Persistent link: https://www.econbiz.de/10012459077

Do Stock Price Bubbles Influence Corporate Investment?

Gilchrist, Simon - 2004

stock market bubble by issuing new equity. The bubble reduces the user-cost of capital and increase real investment. Using … real investment …

Persistent link: https://www.econbiz.de/10012468156

Credit Booms, Financial Crises and Macroprudential Policy

Gertler, Mark - 2020

We develop a model of banking crises which Is consistent with two important features of the data: First, banking crises are usually preceded by credit booms. Second, credit booms often do not result in a crisis. That is, there are "good" booms as well as "bad" booms in the language of Gorton and...

Persistent link: https://www.econbiz.de/10012481336

Managing Credit Booms and Busts : A Pigouvian Taxation Approach

Jeanne, Olivier - 2010

We study a dynamic model in which the interaction between debt accumulation and asset prices magnifies credit booms and busts. We find that borrowers do not internalize these feedback effects and therefore suffer from excessively large booms and busts in both credit flows and asset prices. We...

Persistent link: https://www.econbiz.de/10012462279

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