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China pro-growth monetary policy and its asymmetric transmission

Chen, Kaiji; Higgins, Patrick; Waggoner, Daniel F.; Zha, Tao - 2016

China monetary policy, as well as its transmission, is yet to be understood by researchers and policymakers. In the spirit of Taylor (1993, 2000), we develop a tractable framework that approximates practical monetary policy of China. The framework, grounded in relevant institutional elements,...

Persistent link: https://www.econbiz.de/10011776819

Trade Credit and the Bank Lending Channel

Nilsen, Jeffrey H. - 1999

firms accelerate, loan growth. We find that small firms increase trade credit, a substitute credit, indicating a strong loan …-desirable alternative. Using trade credit is propitious since unlike commercial paper (investigated by previous researchers), it is widely … used by the small firms suffering the loan decline. Surprisingly, we also find large firms increase trade credit, a puzzle …

Persistent link: https://www.econbiz.de/10011430008

New Zealand’s Thin Capitalisation Rules and the Adoption of International Financial Reporting Standards in New Zealand

Nethercott, Les - 2012

In response to Australia's decision to adopt international financial reporting standards (IFRSs) from 2005, New Zealand has subsequently decided to follow. New Zealand reporting entities are required to adopt IFRSs from 2007 with the option of early adoption from 2005.As New Zealand is one of...

Persistent link: https://www.econbiz.de/10013107298

How Do Firms Manage Their Earnings Forecast Strategy? A New Zealand Study

Dunstan, Keitha L. - 2012

In contrast to the trend of research investigating why firms decide to release earnings forecasts to pre-empt any expected change in earnings, our study investigates how firms manage their earnings forecast strategy once they have decided to release earnings forecasts. Using a sample of 350...

Persistent link: https://www.econbiz.de/10013107302

Tax Design Insights from the New Zealand Goods and Services Tax (GST) Model

Dickson, Ian L - 2012

The editors of the Mirrlees Review asked us to evaluate the UK VAT and the European Union VAT Directive and compare them to the New Zealand VAT model, which is called GST (Goods and Services Tax). At first sight, this brief might seem strange. After all, the VAT is a European invention that has...

Persistent link: https://www.econbiz.de/10013107303

The Production of Legitimacy in New Zealand Local Government Auditing

Colquhoun, Philip - 2012

This paper expands our understanding of the introduction of new audit arrangements in the public sector by looking at three cases relating to the audit of local government. The first case saw the Audit Office replacing the elected auditors as the sole auditor of municipalities in 1886; the second...

Persistent link: https://www.econbiz.de/10013108543

Monetary Policy in a Small Open Economy Model: A DSGE-VAR Approach for Switzerland

Bäurle, Gregor; Menz, Tobias - 2008

We study the transmission of monetary shocks and monetary policy with a behavioral model, corrected for potential misspecification using the DSGE-VAR framework elaborated by DelNegro and Schorfheide (2004). In particular, we investigate if the central bank should react to movements in the...

Persistent link: https://www.econbiz.de/10011430077

Do world shocks drive domestic business cycles? Some evidence from structural estimation

Lubik, Thomas; Teo, Wing Leong - 2005

vastly different results. In this paper, we overcome this by estimating a DSGE model using a structural Bayesian estimation …

Persistent link: https://www.econbiz.de/10010293453

Winter blues and time variation in the price of risk

Garrett, Ian; Kamstra, Mark; Kramer, Lisa - 2004

Previous research has documented robust links between seasonal variation in length of day, seasonal depression (known as seasonal affective disorder, or SAD), risk aversion, and stock market returns. The influence of SAD on market returns, known as the SAD effect, is large. The authors study the...

Persistent link: https://www.econbiz.de/10010397599

Loyal Lenders or Fickle Financiers: Foreign Banks in Latin America

Galindo, Arturo; Micco, Alejandro; Powell, Andrew - 2005

in credit increases. …

Persistent link: https://www.econbiz.de/10010327056

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