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deregulation and harmonisation of banking laws at the EU level has brought about on growth over the last 40 years. Our main …
Persistent link: https://www.econbiz.de/10009635911
Persistent link: https://www.econbiz.de/10001820911
The Great Recession has been characterised by the two stylized facts: the buildup of leverage in the household sector in the period preceding the recession and a protracted economic recovery that followed. We attempt to explain these two facts as an information friction, whereby agents are...
Persistent link: https://www.econbiz.de/10011656163
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change borders to estimate treatment effects for 23 separate deregulation events. To distinguish real treatment effects from … in five out of the 23 deregulation events examined. Hinterland countiesʺ within the still-regulated states, but farther …-border spillover of deregulation effects may invalidate the empirical design …
Persistent link: https://www.econbiz.de/10003507197
data. By implication, labor market deregulation has a greater effect on the cyclicality of labor productivity and on the …
Persistent link: https://www.econbiz.de/10012547644
We exploit the exogenous variation in regional credit market contestability brought on by banking deregulation in the … United States to study the narrowing of the gender gap in local labor markets. We .nd that deregulation reduced the gender … the labor force. Deregulation also reduced wage inequality as women became more likely to work in the private sector, to …
Persistent link: https://www.econbiz.de/10011673615
This paper investigates the in inflationary effects of fscal policy in an optimizing general equilibrium monetary model with capital accumulation, exible prices and wealth effects. The model is calibrated to Euro Area quarterly data. Simulation results show that government defcits, high debt...
Persistent link: https://www.econbiz.de/10009635879
Within a two-step GARCH framework we explore the linkages between equity returns of ten sectors in the euro area, the United States and Japan, respectively. Our estimation framework allows a distinction to be made between spillover effects originating from one of the three currency areas and...
Persistent link: https://www.econbiz.de/10009635881
This paper investigates the performance of optimised interest rate rules when there is uncertainty about a key determinant of the monetary transmission mechanism, namely the degree of persistence characterising the inflation process. The paper focuses on the euro area and utilises two variants of...
Persistent link: https://www.econbiz.de/10009635885