Showing 1 - 10 of 141
The paper provides an overview of recent asset price developments in France in the light of analytical research carried out at the Banque de France. Like in many other countries, historically low interest rates have boosted asset price dynamics in France over recent years. The paper attempts to...
Persistent link: https://www.econbiz.de/10004998854
This article studies the impact of monetary policy on real economy in Europe through a particular transmission mechanism: the credit channel. The credit channel is based on the existence of information asymmetries in financial markets that change the agents financing conditions. According to the...
Persistent link: https://www.econbiz.de/10009001095
We study the impact of foreign banks' presence in Central and Eastern Europe's countries on their economic development … systems, the consequences of the opening of the banking markets to the foreign banks was globally positive. Thanks to local … acquisitions by foreign investors, domestic banks have been recapitalized and transformed into effective and profitable banks with …
Persistent link: https://www.econbiz.de/10015222095
One of the privileged explanations of the current crisis is the sophistication and the weak transparency of financial markets which would have allowed speculative behavior to elude authorities’ supervision. This article develops a different view by putting the emphasis on the model of...
Persistent link: https://www.econbiz.de/10015229801
It became clear, sometimes in a dramatic way that the world is going through the most difficult economic and financial crisis in history, which may affect its long-term stability. Because of multiple interferences in the context of the globalization of markets, the financial crisis triggered in...
Persistent link: https://www.econbiz.de/10015240768
Cette étude spéciale dresse un bilan de l’évolution de la crise financière qui secoue l’économie mondiale depuis l’été 2007. Partie de l’immobilier aux États-Unis, elle s’est rapidement propagée à l’ensemble du système financier par le biais des mécanismes de titrisation....
Persistent link: https://www.econbiz.de/10008544035
les actions des différents secteurs économiques des P.E.D. / This paper aims to show complementary of official banks and … microbanks in a stock-flow accounting framework initially proposed by Godley and Lavoie. We show that the official banks and … banks. The first category are the official commercial banks (banks) and the second category are the banks de facto (the …
Persistent link: https://www.econbiz.de/10005458777
This paper investigates the implications of cross-country heterogeneity within the euro area for the design of optimal monetary policy. We build an optimizing-based multi-country model (MCM) describing the euro area in which differences between structural parameters across countries are allowed....
Persistent link: https://www.econbiz.de/10004998845
In this paper, we, seek to characterize the dynamic effects of permanent technology shocks and the way in which US monetary authorities reacted to these shocks over the sample 1955(1)--2002(4). To do so, we develop an augmented sticky price-sticky wage model of the business cycle, which is...
Persistent link: https://www.econbiz.de/10005056524
In this paper, we seek to characterize the dynamic effects of permanent technology shocks and the way in which European monetary authorities reacted to these shocks over the past two decades. To do so, we develop an augmented sticky price-sticky wage model of the business cycle, which is...
Persistent link: https://www.econbiz.de/10005056527