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Beyond DSGE: A macrodynamic model with intertemporal coordination failure
Mazzocchi, Ronny - Dipartimento di Politica Economica, Finanza e Sviluppo … - 2010
main contention of Keynes and Wicksell was saving-investment imbalances (i.e. capital market failures and intertemporal … stock whereby it is possible to assess, and hopefully clarify, some basic issues concerning the macroeconomics of saving-investment …
Persistent link: https://www.econbiz.de/10008632937
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Banking globalization and international business cycles: Cross-border chained credit contracts and financial accelerators
Ueda, Kozo - In: Journal of International Economics 86 (2012) 1, pp. 1-16
This paper constructs a two-country DSGE model to study the nature of the recent financial crisis and its effects that spread immediately throughout the world owing to the globalization of banking. In the model, financial intermediaries (FIs) enter into chained credit contracts at home and...
Persistent link: https://www.econbiz.de/10010582624
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Banking Globalization and International Business Cycles
Ueda, Kozo - Institute for Monetary and Economic Studies, Bank of Japan - 2010
This paper constructs a two-country DSGE model to study the nature of the recent financial crisis and its effects that spread immediately throughout the world owing to the globalization of banking. In the model, financial intermediaries (FIs) enter into chained credit contracts at home and...
Persistent link: https://www.econbiz.de/10008460599
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Fiscal Policy and Macroeconomic Imbalances
Baldacci, Emanuele; Gupta, Sanjeev; Mulas-Granados, Carlos - Banca d'Italia - 2014
The volume collects the essays presented at the 15th Workshop on Public Finance organised by Banca d'Italia in Perugia from 4 to 6 April 2013. The workshop focused on the link between fiscal policy and macroeconomic imbalances and comprised four sessions. The first session concentrated on the...
Persistent link: https://www.econbiz.de/10011277938
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The impacts of monetary policy on consumption and investment: empirical evidence from selected countries in Southeast Asia
Zakaria, Zukarnain - In: Philippine Review of Economics 44 (2007) 2, pp. 85-97
variables, investment and consumption have been analysed and compared based on the magnitude and the speed of adjustment. The … variable used in the analysis. Monetary policy was found more effective in influencing investment in the Philippines compared … it impacts on investment. …
Persistent link: https://www.econbiz.de/10008677455
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Monetary Policy and Investment Dynamics: Evidence from Disaggregate Data
Givens, Gregory; Reed, Robert - Volkswirtschaftliche Fakultät, … - 2015
We use disaggregated data on the components of private fixed investment (PFI) to estimate industry-level responses of … real investment and capital prices to unanticipated monetary policy. The response functions derive from a restricted large … and quantities. For assets belonging to the equipment category of fixed investment, we find that quantities rather than …
Persistent link: https://www.econbiz.de/10011124289
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The origins of the German current account surplus: Unbalanced productivity growth and structural change
Coricelli, Fabrizio; Ravasan, Farshad R; Wörgötter, … - C.E.P.R. Discussion Papers - 2013
The surge in the German current account surplus in the 2000s is often interpreted as the result of efficiency-enhancing structural reforms, especially in the labor market. However, this interpretation is puzzling because the growth rate of the German economy has been one of the lowest in the...
Persistent link: https://www.econbiz.de/10011083287
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Global Imbalances: In Midstream?
Blanchard, Olivier J; Milesi-Ferretti, Gian Maria - C.E.P.R. Discussion Papers - 2010
been significant changes in saving and investment patterns across the world and imbalances have narrowed considerably. Does …
Persistent link: https://www.econbiz.de/10008468701
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China’s Macroeconomic Imbalances: Causes and Consequences
Knight, John; Wang, Wei - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2011
sense of very high investment and very low consumption, giving rise to rapid capital accumulation; and an imbalance between … investment if it generates excess liquidity and asset bubbles. The current account surplus rose remarkably in the years 2004 …
Persistent link: https://www.econbiz.de/10009146904
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The Impact of Structural Policies on Saving, Investment and Current Accounts
Kerdrain, Clovis; Koske, Isabell; Wanner, Isabelle - Economics Department, Organisation de Coopération et … - 2010
This paper explores the impact of structural policies on saving, investment, and current accounts in OECD and non … well as for a panel/cross-section of 117 OECD and non-OECD countries that relate saving, investment and current accounts to … saving, investment and current accounts through their impact on macroeconomic conditions such as productivity growth or …
Persistent link: https://www.econbiz.de/10008752697