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Souveränität in geldpolitischen Fragen an die Europäische Zentralbank ab. Die Geldpolitik scheidet somit als Instrument der … Rezession) zukommt, so kann die Vereinheitlichung der Geldpolitik zu negativen Auswirkungen auf die konjunkturelle Entwicklung … Geldpolitik auf die Entwicklung der kurzfristigen Zinssätze analysiert, um schließlich mittels einer VAR-Analyse Aufschluß über …
Persistent link: https://www.econbiz.de/10014608685
relatively simple regulations, such as limits on credit expansion, may be the most reasonable option for developing countries …
Persistent link: https://www.econbiz.de/10015361025
empirical data. Our results suggest that the speculation hypothesis has more explanatory power than the productivity hypothesis …
Persistent link: https://www.econbiz.de/10014588447
agricultural credit association using historical data. The simulation model is used to evaluate the mark‐up to economic capital … that is implied by increasing credit risks due to cyclical changes in farm real estate values. Findings – The paper … values and between the PD and LGD provide evidence of how sensitive credit risk exposure is to these parameters. Originality …
Persistent link: https://www.econbiz.de/10014667119
Deeper trade integration between Central America and the United States, as envisaged under the Central American Free Trade Agreement, is likely to lead to closer links between Central American and U.S. business cycles. This article assesses the degree of business cycle synchronization between...
Persistent link: https://www.econbiz.de/10015360542
Summary In pursuing their plans economic agents regularly have to adjust their pacing of orders, production, and deliveries in unanticipated ways. Information constraints turn many of these adjustments into myopic reactions to accelerations/decelerations observed in the activity level of...
Persistent link: https://www.econbiz.de/10014608887
is developed basically on a simple financial business cycle model by embedding credit constrains into the DSGE model … that: the development of the financial and credit markets during recent years has increased the volatility of the economic … cycle – excessive credit abuse has become the root cause of the instability of the economy system; the proportion of the …
Persistent link: https://www.econbiz.de/10014694464
This paper reconsiders the conventional use of econometric models, especially identified vector autoregressive models, in guiding monetary policy. The main question I explore is whether these models are seriously flawed because they ignore asymmetries in the business cycles. Toward that end,...
Persistent link: https://www.econbiz.de/10014620820
Purpose – This paper aims to assess the feasibility of the proposed Caribbean Monetary Union (CMU) by examining the synchronization of business cycles within CARICOM. According to the literature on optimum currencies, the synchronization of business cycles is a key requirement for the...
Persistent link: https://www.econbiz.de/10014768736
monetary policy through the credit channel in Brazil. The study verifies if the monetary policy, the economic activity and the … maturity of the inflation targeting regime affect the supply of credit. Design/methodology/approach – The paper offers a review … the credit channel, it develops a theoretical model based on Bernanke and Blinder and Ferreira and it seeks empirical …
Persistent link: https://www.econbiz.de/10014864360