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We estimate the effect of demand and price uncertainty on firms’ investment decisions from a panel of manufacturing firms. Uncertainty measures are derived from firms’ subjective qualitative expectations. They are close to their theoretical counterparts, the variances of future demand and...
Persistent link: https://www.econbiz.de/10009639401
We analyze the impact of efficiency on bank risk. We also consider whether bank capital has an effect on this relationship. We model the inter-temporal relationships among efficiency, capital and risk for a large sample of commercial banks operating in the European Union. We find that reductions...
Persistent link: https://www.econbiz.de/10009640329
This paper analyses euro area non-financial corporations (NFC) money demand, both from a macro and a microeconomic point of view. At a macro level, money holdings are modelled as a function of real gross added value, the price level, the long-term interest rate on bank lending to non-financial...
Persistent link: https://www.econbiz.de/10009640283
In this paper we analyse household holdings of the broad monetary aggregate M3 in the euro area from 1991 until 2009. We develop four models, two in nominal, two in real terms, with satisfactory economic and statistical properties. The main determinants are a transactions variable, wealth...
Persistent link: https://www.econbiz.de/10009640302
. Following a sample approach this evaluation has its geographical focus on four new member states (Estonia, Poland, Hungary and … Slovakia) and Bulgaria and Romania. …
Persistent link: https://www.econbiz.de/10012036378
Persistent link: https://www.econbiz.de/10009639641
of Roma minorities was specified as an Accession Partnership priority (Bulgaria, Czech Republic, Hungary, Romania and …
Persistent link: https://www.econbiz.de/10011476832
Phare support to SME development has mainly consisted of technical assistance and advisory services to national institutions, support to SME policy and legislative development and financial support for SME development. Progress has been made in tackling problems inherited from the past, as well...
Persistent link: https://www.econbiz.de/10011476851
the European Union as part of the ‘fifth wave’ of EU enlargement, i.e. Cyprus, Czech Republic, Estonia, Hungary, Latvia …, Lithuania, Malta, Poland, Slovakia, and Slovenia on 01/05/2004, and Bulgaria and Romania on 01/01/2007. It marked an … and in 2007 for Bulgaria and Romania. The Transition Facility is also addressed by this ex postevaluation. …
Persistent link: https://www.econbiz.de/10011799484
Persistent link: https://www.econbiz.de/10012116924