Showing 1 - 10 of 444
their investment more after the crisis. This negative effect is stronger for firms linked to weak banks with exposures to … corporate investment. …
Persistent link: https://www.econbiz.de/10011975573
The role that the price of oil plays in economic analysis in central banks as well as in financial markets has evolved over time. Oil is not seen anymore just as a input to production but also as a barometer of global economic activity as well as a financial asset. A high frequency structural...
Persistent link: https://www.econbiz.de/10012299083
euro area as a whole and in its five largest countries. In a Bayesian VAR framework, the two credit supply shocks are …
Persistent link: https://www.econbiz.de/10013265943
This study applies a model averaging approach to conditionally forecast housing investment in the largest euro area … investment which calls for country-specific housing market policies. A pseudo out-of-sample forecast exercise shows that our …
Persistent link: https://www.econbiz.de/10014278682
aggregate output, investment and labour in an otherwise standard real business cycle model. Lumpy capital leaves the RBC mainly … repsonses. In addition, when modeling lumpy adjustments on both investment and labour, the aggregate effects are even stronger … element in accounting for these differences. -- Lumpy labor adjustment ; Lumpy investment ; Business cycles ; Elasticity of …
Persistent link: https://www.econbiz.de/10003831817
We propose a theoretical framework to reconcile episodes of V-shaped and L-shaped recovery, en- compassing the behaviour of the U.S. economy before and after the Great Recession. In a DSGE model with endogenous growth, negative demand shocks destroy productive capacity, moving GDP to a lower...
Persistent link: https://www.econbiz.de/10012627907
We provide evidence that industries' supply curves are convex. To guide our empirical analysis, we develop a model, in which capacity constraints at the plant level generate convex supply curves at the industry level. The industry's capacity utilization rate is a sufficient statistic for the...
Persistent link: https://www.econbiz.de/10012271523
This paper investigates the link between corporate debt and investment for a group of five peripheral euro area … countries. Using firm-level data from 2005-2014, we postulate a non-linear corporate leverage-investment relationship and derive … thresholds beyond which leverage has a negative and significant impact on investment. The investment sensitivity of debt …
Persistent link: https://www.econbiz.de/10011719911
We present evidence that referenda have a significant, detrimental outcome on investment. Employing an unsupervised … policy-related uncertainty. Examining the relationship of these indices with investment on a longitudinal panel of 3 … uncertainty to investment. Our preferred specification suggests that a one standarddeviation increase in Brexit uncertainty …
Persistent link: https://www.econbiz.de/10012212854
firm level investment and high-frequency identified monetary policy shocks. We show that the reaction of firms' investment …
Persistent link: https://www.econbiz.de/10012197861