Showing 1 - 10 of 1,040
Growth: Financing New Growth in Europe” at Bocconi University, Milan. The present SUERF Study includes a selection of papers …
Persistent link: https://www.econbiz.de/10011689965
We present a DSGE model where firms optimally choose among alternative instruments of external finance. The model is used to explain the evolving composition of corporate debt during the financial crisis of 2008-09, namely the observed shift from bank finance to bond finance, at a time when the...
Persistent link: https://www.econbiz.de/10011605804
International financial linkages, particularly through global bank flows, generate important questions about the consequences for economic and financial stability, including the ability of countries to conduct autonomous monetary policy. I address the monetary autonomy issue in the context of...
Persistent link: https://www.econbiz.de/10010333575
We study both theoretically and empirically the inter- dependence of lending decisions in different country branches of a multinational bank. First, we model a bank that delegates the management of its foreign unit to a local manager with non-transferable skills. The bank differs from other...
Persistent link: https://www.econbiz.de/10011604853
Higher education is in the position to save Europe by rendering a substantial contribution to sustainable economic …
Persistent link: https://www.econbiz.de/10010331415
new light on this question by comparing pre- and post-crisis migration movements at the regional level in both Europe and … in Europe. Indeed, in contrast to the pre-crisis situation and the findings of previous empirical studies, there is … tentative evidence that the migration response to the crisis has been considerable in Europe, in contrast to the United States …
Persistent link: https://www.econbiz.de/10010478924
new light on this question by comparing pre- and post-crisis migration movements at the regional level in both Europe and … in Europe. Indeed, in contrast to the pre-crisis situation and the findings of previous empirical studies, there is … tentative evidence that the migration response to the crisis has been considerable in Europe, in contrast to the United States …
Persistent link: https://www.econbiz.de/10010484712
Persistent link: https://www.econbiz.de/10011695744
Finanzkrise auf die Ungleichheit. Unter der Annahme, dass sich diese als (negativer) exogener Wachstumsschock manifestiert, ist zu … erwarten, dass die Finanzkrise eine dämpfende Wirkung auf die Einkommensungleichheit in Deutschland haben wird. …
Persistent link: https://www.econbiz.de/10010300316
In this note I argue that the desirability of fiscal policy in response to the current crisis depends on whether one views the current crisis as a temporary deviation from a unique equilibrium or as a bad equilibrium out of multiple equilibria. The paper presents a simple Diamond (1982) type of...
Persistent link: https://www.econbiz.de/10010326063