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)-type inventory management problem successfully accounts for these features of the data. Moreover, the model can account for import … and import price dynamics in the aftermath of large devaluations. In particular, desired inventory adjustment in response …
Persistent link: https://www.econbiz.de/10010292145
unconstrained firms use bank loans to finance trade credit provided to other firms. Our results illustrate alternative mechanisms …
Persistent link: https://www.econbiz.de/10010292178
The bank lending channel theory posits that during monetary contractions banks restrict some firms' loans, thus reducing their desired investment independently of interest rates. Previous research finds small firms reduce, while large firms accelerate, loan growth. We find that small firms...
Persistent link: https://www.econbiz.de/10011430008
How do financial development and financial integration interact? We focus on Japan's Great Recession after 1990 to study this question. Regional differences in banking integration affected how the recession spread across the country: financing frictions for credit-dependent firms were more...
Persistent link: https://www.econbiz.de/10010316944
natural comparative advantage in silk reeling. Producing silk for export required access to finance. At the same time, for …
Persistent link: https://www.econbiz.de/10012523363
This paper discusses the role that finance plays in promoting the capital development of the economy, with particular … emphasis on the current situation of the United States and the United Kingdom. We define both "finance" and "capital … the United States. To a large degree, this was because finance, instead of financing the capital development of the …
Persistent link: https://www.econbiz.de/10011545297
integrated analysis of money, finance and macroeconomics and its application to changing institutional and historical …
Persistent link: https://www.econbiz.de/10011565324
A growing body of recent macroeconomic evidence suggests that volatility is detrimental to economic growth. The channels through which volatility affects growth, however, are less clear; substantive evidence based on disaggregate data is almost non-existent. This paper offers a framework in...
Persistent link: https://www.econbiz.de/10010278247
Relying on data for a panel of 90 economies over 1970-2015 and System-GMM estimates, we extend the standard Kuznets-curve empirical framework to investigate how financial development, globalisation and technology affect income inequality. Our findings reveal the presence of significant...
Persistent link: https://www.econbiz.de/10012419723
finance and the attacks by organisations exposed to this transfer. The effect of financing on attacks increases in recruitment …
Persistent link: https://www.econbiz.de/10013342559