Showing 1 - 10 of 24,598
This paper analyses the influence of economic fluctuations on the financing decisions of companies from Indonesia and Malaysia from 1996 to 2005. Our results show that companies with better access to external capital and those that adjust their financial structures faster outperform other...
Persistent link: https://www.econbiz.de/10005753753
This paper analyses the influence of economic fluctuations on the financing decisions of companies from Indonesia and Malaysia from 1996 to 2005. Our results show that companies with better access to external capital and those that adjust their financial structures faster outperform other...
Persistent link: https://www.econbiz.de/10008538672
This paper studies the interaction between the business cycle and the credit market. A first result is that the business cycle has procyclical effects on different types of credit (i.e., consumer, commercial and mortgage loans). The results area obtained through the identification of structural...
Persistent link: https://www.econbiz.de/10010553255
This paper reviews extensively the literature on asset pricing and builds a structural dynamic general equilibrium model with financial assets. We obtain the policy function of the calibrated model and approximate it up to third order. We derive asset pricing and various premiums conditions up...
Persistent link: https://www.econbiz.de/10010877146
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
In this paper, I estimate an open economy DSGE model for the Taiwanese economy. The model features multiple sources of …
Persistent link: https://www.econbiz.de/10005342909
In this paper we develop a dynamic stochastic general equilibrium (DSGE) model for an open economy, and estimate it on … paper offers: i) a theoretical development of the standard DSGE model into an open economy setting, ii) Bayesian estimation …
Persistent link: https://www.econbiz.de/10005649043
This paper investigates the transmission of macroeconomic shocks to production in a model that includes a large and a small bank. The two banks are differentiated by parameters that govern their sensitivities to their own and their borrowers’ balance sheets and simulations show that the large...
Persistent link: https://www.econbiz.de/10010959951
This paper uses the Shapley Value decomposition technique to assess the factors behind the rise of inequality in China …. It finds that, in many ways, inequality may have been an inevitable by-product of China’s investment and export …. Across China’s provinces, divergences in per capita incomes are driven by the relative level of capital-intensity, public …
Persistent link: https://www.econbiz.de/10010790266
sector in mainland China by means of a nonlinear stochastic general equilibrium (DSGE) model with occasionally binding …, tighter regulation of interest rates in the commercial banking sector in China leads to an increase in loans provided by the …
Persistent link: https://www.econbiz.de/10011204441