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Manganelli, Simone; Popov, Alexander - 2010

We study how financial market efficiency affects a measure of diversification of output across industrial sectors … and for various levels of disaggregation, we construct a benchmark measure of diversification as the set of allocations of … aggregate output across industrial sectors which minimize the economy’s long-term volatility for a given level of long …

Persistent link: https://www.econbiz.de/10009640281

Financial regulation, financial globalization and the synchronization of economic activity

Kalemli-Ozcan, Sebnem; Papaioannou, Elias; Peydró, … - 2010

that become more integrated over time have less synchronized growth patterns, conditional on global shocks and country …

Persistent link: https://www.econbiz.de/10009640319

The great inflation, limited asset markets participation and aggregate demand

Bilbiie, Florin O. - 2004

When enough agents do not participate in asset markets, the slope of the aggregate demand curve is reversed. Monetary policy should be passive, to ensure equilibrium determinacy and to minimize variations in output and inflation. This paper presents evidence that asset markets participation in...

Persistent link: https://www.econbiz.de/10009639468

Trusting the bankers

Ciccarelli, Matteo; Maddaloni, Angela; Peydró, José-Luis - 2010

Any empirical analysis of the credit channel faces a key identification challenge: changes in credit supply and demand are difficult to disentangle. To address this issue, we use the detailed answers from the US and the confidential and unique Euro area bank lending surveys. Embedding this...

Persistent link: https://www.econbiz.de/10009640312

Credit supply

Jiménez, Gabriel; Ongena, Steven; Peydró, José-Luis; … - 2010

To identify credit availability we analyze the extensive and intensive margins of lending with loan applications and all loans granted in Spain. We find that during the period analyzed both worse economic and tighter monetary conditions reduce loan granting, especially to firms or from banks...

Persistent link: https://www.econbiz.de/10009640362

Corporate bond spreads and real activity in the euro area

Buchmann, Marco - 2011

This paper aims at providing a detailed analysis of the leading indicator properties of corporate bond spreads for real economic activity in the euro area. In- and out-of-sample predictive content of corporate bond spreads are examined along three dimensions: the bonds’ quality , their term to...

Persistent link: https://www.econbiz.de/10009640612

Business cycle synchronisation

Dées, Stéphane; Zorell, Nico - 2011

Drawing on a large sample of countries, this paper explores whether closer economic ties between countries foster business cycle synchronisation and disentangles the role of the various channels, including trade and financial linkages as well as the similarity in sectoral specialisation....

Persistent link: https://www.econbiz.de/10009640698

Theoretical notes on bubbles and the current crisis

Martin, Alberto; Ventura, Jaume - 2011

We explore a view of the crisis as a shock to investor sentiment that led to the collapse of a bubble or pyramid scheme in financial markets. We embed this view in a standard model of the financial accelerator and explore its empirical and policy implications. In particular, we show how the...

Persistent link: https://www.econbiz.de/10009640837

Comparing economic dynamics in the EU and CEE accession countries

Süppel, Ralph - 2003

This paper presents evidence for structural differences in economic growth dynamics between the current EU and the … have posted higher average growth and wider output fluctuations than the euro area and other EU countries. Second, a set of …

Persistent link: https://www.econbiz.de/10009635910

Thematic Global Evaluation of European Commission Support to agricultural commodities in ACP countries : Final Report ; Volume 1: Main report

Aide à la Décision Economique, … - 2012

This evaluation covers European Commission support to agricultural commodities in all Africa Caribbean and Pacific (ACP) countries over the period 2000-2009 in the context of the policies and approaches laid down in two Communications that set out the European Union’s (EU) Action Plan for...

Persistent link: https://www.econbiz.de/10011799378

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