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Semi-structural credit gap estimation
Lang, Jan Hannes; Welz, Peter - 2018
This paper proposes a semi-structural approach to identifying excessive household credit developments. Using an overlapping generations model, a normative trend level for the real household credit stock is derived that depends on four fundamental economic factors: real potential GDP, the...
Persistent link: https://www.econbiz.de/10011928898
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Culture and household saving
Guin, Benjamin - 2017
This paper examines the role of culture in households' saving decisions. Exploiting the historical language borders within Switzerland, I isolate the effect of households' exposure to certain language groups from economic, institutional, demographic and geographic factors for a homogeneous and...
Persistent link: https://www.econbiz.de/10011656184
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Losers amongst the losers : the welfare effects of the Great Recession across cohorts
Ferrari, Alessandro - 2020
This paper studies the effect of deep recessions on intergenerational inequality by quantifying the welfare effects on households at different phases of the life cycle. Deep recessionary episodes are characterized by large declines in the prices of real and financial assets and in employment....
Persistent link: https://www.econbiz.de/10012390444
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Liquidity constraints and demand for maturity the case of mortgages
Ferrari, Alessandro; Loseto, Marco - 2023
Using administrative data on mortgages issued in Italy between 2018 and 2019, this paper estimates loan demand elasticities to maturity and interest rate. We find that households are responsive to both contract terms: a 1% decrease in interest rate increases the average loan size by 0.22%...
Persistent link: https://www.econbiz.de/10014478506
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Growth, real exchange rates and trade protectionism since the financial crisis
Georgiadis, Georgios; Gräb, Johannes - 2013
Persistent link: https://www.econbiz.de/10010233280
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Labor share and growth in the long run
Charpe, Matthieu; Bridji, Slim; McAdam, Peter - 2019
This paper establishes some stylized facts of the long run relationship between growth and labor shares using … explaining a major part of the variance in the data. Further, the impact of labor share on growth changes sign with the frequency …
Persistent link: https://www.econbiz.de/10011987146
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The role of factor substitution and technical progress in China's great expansion
Manu, Ana-Simona; McAdam, Peter; Willman, Alpo - 2018
technical progress, the above-unity elasticity of substitution can be a source of growth (the ‘de La Grandville hypothesis’). We …
Persistent link: https://www.econbiz.de/10011904381
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Product market regulation, business churning and productivity : evidence from the European Union countries
Anderton, Bob; Di Lupidio, Benedetta; Jarmulska, Barbara - 2019
Productivity performance in European countries has been a policy concern for some time. This paper shows that productivity can be enhanced by product market policies which, by increasing competition and efficiency, facilitate higher rates of firms' entry and exit (i.e., firm churning). Drawing...
Persistent link: https://www.econbiz.de/10012132481
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Evidence on finance and economic growth
Popov, Alexander - 2017
economic growth that has accumulated over the past quarter-century. The bulk of the historical evidence suggests that financial … development a¤ects economic growth in a positive, monotonic way, yet recent research endeavors have provided useful and important … society, as well as the channels through which finance can slow down long-term growth. …
Persistent link: https://www.econbiz.de/10011764391
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Financial reforms and innovation : a micro-macro perspective
Boikos, Spyridon; Bournakis, Ioannis; Dimitris, … - 2021
We develop a horizontal R&D growth model that allows us to investigate the different channels through which financial … sector produces a straightforward result: a decrease in lending rates which stimulates R&D investment and economic growth …
Persistent link: https://www.econbiz.de/10012508542