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A search-based neoclassical model of capital reallocation
Dong, Feng; Wang, Pengfei; Wen, Yi - 2018 - This version: July, 2018
As a form of investment, the importance of capital reallocation between firms has been increasing over time, with the purchase of used capital accounting for 25% to 40% of firms total investment nowadays. Cross- firm reallocation of used capital also exhibits intriguing business-cycle...
Persistent link: https://www.econbiz.de/10011911555
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Uncertainty and economic activity : a global perspective
Cesa-Bianchi, Ambrogio; Pesaran, M. Hashem; Rebucci, … - 2014
The 2007-2008 global financial crisis and the subsequent anemic recovery have rekindled academic interest in quantifying the impact of uncertainty on macroeconomic dynamics. This paper studies the interrelation between financial markets volatility and economic activity assuming that both...
Persistent link: https://www.econbiz.de/10011286232
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On corporate borrowing, credit spreads and economic activity in emerging economies : an empirical investigation
Caballero, Julián; Fernández, Andrés; Park, Jongho - 2016
This paper studies the influence of external financial factors on economic activity in emerging economies (EMEs) motivated by a considerable increase in foreign financing by the corporate sector in EMEs since the early 2000s, mainly in the form of bond issuance. A quarterly external financial...
Persistent link: https://www.econbiz.de/10011519092
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Aggregate implications of corporate bond holdings by nonfinancial firms
Ferreira, Miguel H. - 2023
This paper explores the impact of risky asset holdings by U.S. nonfinancial firms. From the early 1990s to 2017, the share of risky securities surged from 28% to over 40% of firms' financial assets. Using a business-cycle heterogeneous firms model, I show that declining real interest rates since...
Persistent link: https://www.econbiz.de/10014455419
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Bridging the gap : mobilization of multilateral development banks in infrastructure
Avellán, Leopoldo; Galindo Andrade, Arturo José; … - 2022
We explore how Multilateral Development Banks (MDBs) can help to fill a large infrastructure financing gap in developing countries by indirectly mobilizing resources from other entities. The analysis focuses on more than 6,500 transactions in 2005-2020 to developing and emerging markets from the...
Persistent link: https://www.econbiz.de/10014497279
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Financial conditions and density forecasts for US output and inflation
Alessandri, Piergiorgio; Mumtaz, Haroon - 2014
sent a credible advance warning ahead of the Great Recession. Furthermore, the discrepancies between models are themselves …
Persistent link: https://www.econbiz.de/10010339756
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Fintech entry, firm financial inclusion, and macroeconomic dynamics in emerging economies
Finkelstein Shapiro, Alan; Mandelman, Federico S.; … - 2022
Financial inclusion is strikingly low in emerging economies. In only a few years, financial technologies (fintech) have led to a dramatic expansion in the number of non-traditional credit intermediaries, but the macroeconomic and credit-market implications of this rapid growth of fintech are not...
Persistent link: https://www.econbiz.de/10014516215
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Consumption in the Great Recession : the financial distress channel
Athreya, Kartik B.; Mather, Ryan; Mustre-del-Río, José; … - 2019
During the Great Recession, the collapse of consumption across the U.S. varied greatly but systematically with house … to the decline in income during the recession, and (2) at the zip-code level, the prevalence of financial distress prior … to the recession was positively correlated with house-price declines at the onset of the recession. Using a rich …
Persistent link: https://www.econbiz.de/10012137091
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Contagious switching
Owyang, Michael T.; Piger, Jeremy Max; Soques, Daniel - 2019
the discrete state of the economy (expansion or recession) is observed. The other assumes that the state of the economy is …
Persistent link: https://www.econbiz.de/10012015545
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The state of the Indian economy 2009-10
Joseph C., Mathew (contributor) - 2009
Despite signs of recovery from the global financial crisis, the GDP growth rate for the Indian economy is likely to be between 5.8 to 6.1 per cent in 2009-10, below the 6.7 per cent recorded in fiscal 2008-09. While there has been an improvement in Indian industry, particularly the manufacturing...
Persistent link: https://www.econbiz.de/10003899434