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Reducing institutional rigidities in product and labour markets is key to lowering unemployment. The impact of such …-specific regulatory environment for a dynamic panel of 26 OECD countries. We overcome existing problems of modelling a large set of … changes in employment protection and the unemployment benefit system the impact on unemployment is mixed across countries …
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We analyze the feedback mechanisms between economic downturns and financial stress for several euro area countries. Our study employs newly constructed financial condition indices that incorporate banking variables extensively. We apply a non-linear Vector Smooth Transition Autoregressive...
Persistent link: https://www.econbiz.de/10010238376
We analyze the feedback mechanisms between economic downturns and financial stress for euro area countries. Our study employs newly constructed financial condition indices that incorporate extensively banking variables. We apply a nonlinear Vector Smooth Transition Autoregressive (VSTAR) model...
Persistent link: https://www.econbiz.de/10009792964
The aim of this paper is to assess the dimension of factors and shocks that drive financial conditions, and in particular financial stress in the euro area. A second aim is to construct summary indices on the conditions and level of stress in financial markets with the aid of a dynamic factor...
Persistent link: https://www.econbiz.de/10010204040
Overleveraging of the banking sector has been considered as one of the main causes of the 2007-09 financial crisis and the subsequent great recession. It was also of major concern for the subsequent BIS regulatory policies resulting in Basel III and its request for higher capital requirements....
Persistent link: https://www.econbiz.de/10010416369
We analyze the feedback mechanisms between economic downturns and financial stress for several euro area countries. Our study employs newly constructed financial condition indices that incorporate banking variables extensively. We apply a non-linear Vector Smooth Transition Autoregressive...
Persistent link: https://www.econbiz.de/10010489891