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Growing like Germany : local public debt, local banks, low private investment
Hoffmann, Mathias; Stewen, Iryna; Stiefel, Michael - 2021
municipalities crowds out private investment. Our results show how crowding out can happen in a developed economy characterized by … market power to charge higher rates on their SME customers. This crowded out firm investment. Perversely, fiscal … which increasingly borrowed from local public banks. Crowding out lowered aggregate private investment by around 30-40 bio …
Persistent link: https://www.econbiz.de/10012796947
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Growing like Germany: local public debt, local banks, low private investment
Hoffmann, Mathias; Stewen, Iryna; Stiefel, Michael - 2021 - This version: March 2021
municipalities crowds out private investment. Our results show how crowding-out can happen in a developed economy characterized by … market power to charge higher rates on their SME customers. This crowded out firm investment. Perversely, fiscal … which increasingly borrowed from local public banks. Crowding-out lowered aggregate private investment by around 30-40 bio …
Persistent link: https://www.econbiz.de/10012488747
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Growing like germany : local public debt, local banks, low private investment
Stewen, Iryna; Hoffmann, Mathias; Stiefel, Michael - 2021
Persistent link: https://www.econbiz.de/10012491016
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Growing like Germany : local public debt, local banks, low private investment
Hoffmann, Mathias; Stewen, Iryna; Stiefel, Michael - 2023 - Revised version, December 2023
Over 2010-2016, municipal debt in Germany crowded out private investment worth 1 percent of GDP. Forced to lend to …
Persistent link: https://www.econbiz.de/10014464205
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Growing like Germany : local public debt, local banks, low private investment
Hoffmann, Mathias; Stewen, Iryna; Stiefel, Michael - 2022 - This version: August 21, 2022
Over 2010-2016, municipal debt in Germany crowded out private investment worth 1 percent of GDP. Forced to lend to …
Persistent link: https://www.econbiz.de/10013347219