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We investigate how the lending activities of a multinational bank s affiliates located abroad are affected by funding difficulties in view of the financial crisis. For this, we consider transaction-induced changes in long-term lending to the private sector of 40 countries by the affiliates of...
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In this paper, we use the estimated three-region DSGE model GEAR, which pictures Germany, the Euro Area and the Rest of … the world and which is used by the Deutsche Bundesbank for policy analysis, to analyze how discretionary fiscal policy in … Germany and the rest of EMU affected GDP growth and unemployment during the crisis. Not surprisingly, stimulus programmes …
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