Similar Search Results

The Eurosystem's asset purchase programme and TARGET balances

Eisenschmidt, Jens; Kedan, Danielle; Schmitz, Martin; … - 2017

TARGET balances have risen during the period of the Eurosystem's asset purchase programme (APP). The APP gives rise to substantial cross-border flows of reserves at the time of asset purchases and beyond, reflecting the interaction of decentralised monetary policy implementation and the...

Persistent link: https://www.econbiz.de/10011719852

Stress-testing of liquidity risk in TARGET2

Papsdorf, Patrick (contributor); Arciero, Luca (contributor) - Europäische Zentralbank / Group on TARGET2 Stress Testing - 2017

The paper reports the outcome of the stress-testing of liquidity risk in the TARGET2 payment system, with the study … resilience of the system, defined as the network of its participants, and the appropriateness of liquidity levels under tightened … liquidity conditions. The scenarios analysed are based on extreme shocks to the value of collateral of different levels and …

Persistent link: https://www.econbiz.de/10011627053

Insolvency regimes and productivity growth : a framework for analysis

McGowan, Muge Adalet; Andrews, Dan - 2016

This paper develops an analytical framework to identify the policies relevant for firm exit and the channels through which they shape aggregate productivity growth. A range of potentially relevant policies are identified, spanning insolvency regimes, regulations affecting product, labour and...

Persistent link: https://www.econbiz.de/10011577810

Insolvency regimes, technology diffusion and productivity growth : evidence from firms in OECD countries

McGowan, Muge Adalet; Andrews, Dan; Millot, Valentine - 2017

This paper explores the link between the design of insolvency regimes across countries and laggard firms’ multi-factor productivity (MFP) growth, using new OECD indicators of the design of insolvency regimes. Firm-level analysis shows that reforms to insolvency regimes that lower barriers to...

Persistent link: https://www.econbiz.de/10011823606

Design of insolvency regimes across countries

McGowan, Muge Adalet; Andrews, Dan - 2018

This paper explores cross-country differences in the design of insolvency regimes, based on quantitative indicators constructed from countries’ responses to a recent OECD policy questionnaire. The indicators – which are available for 36 countries for 2010 and 2016 – aim to better capture...

Persistent link: https://www.econbiz.de/10011914641

Insolvency regimes, zombie firms and capital reallocation

McGowan, Muge Adalet; Andrews, Dan; Millot, Valentine - 2017

This paper explores cross-country differences in the design of insolvency regimes and their potential links with two inter-related sources of labour productivity weakness: the survival of “zombie” firms (firms that would typically exit in a competitive market) and capital misallocation. New...

Persistent link: https://www.econbiz.de/10011700546

How institutions shape the distributive impact of macroeconomic shocks : a DSGE analysis

Ahrend, Rudiger; Moeser, Charlotte; Monacelli, Tommaso - 2011

Persistent link: https://www.econbiz.de/10009689711

The sharing of macroeconomic risk : who loses (and gains) from macroeconomic shocks

Ahrend, Rudiger; Arnold, Jens Matthias; Moeser, Charlotte - 2011

Persistent link: https://www.econbiz.de/10009689718

How do structural policies affect financial crisis risk? : evidence from past crises across OECD and emerging economies

Ahrend, Rudiger; Goujard, Antoine - 2012

, vulnerability to international bank balance-sheet shocks is found to be lower in situations of abundant global liquidity …

Persistent link: https://www.econbiz.de/10009691018

A general equilibrium analysis of the effects of the 2014-2020 European Cohesion policy in the Portuguese regions

Barbero, Javier; Salotti, Simone - 2021

We analyse the impact of the investments related to the European Cohesion policy in Portugal over the 2014-2020 programming period. We use the spatial dynamic general equilibrium model RHOMOLO to identify the direct and indirect effects stemming from a variety of spending categories and economic...

Persistent link: https://www.econbiz.de/10012594032