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Monetary Policy Reform in a World of Central Banks

Schnabl, Gunther - 2012

The paper identifies based on the monetary overinvestment theories by Wicksell (1898), Mises (1912) and Hayek (1929) monetary policy mistakes in large industrial countries issuing international currencies. It its argued that a neglect towards monetary policy reform in a world dominated by...

Persistent link: https://www.econbiz.de/10010334476

Corporate Debt Structure and the Financial Crisis

De Fiore, Fiorella; Uhlig, Harald - 2015

We present a DSGE model where firms optimally choose among alternative instruments of external finance. The model is used to explain the evolving composition of corporate debt during the financial crisis of 2008-09, namely the observed shift from bank finance to bond finance, at a time when the...

Persistent link: https://www.econbiz.de/10011605804

Die Auswirkungen der Geldmenge und des Kreditvolumens auf die Immobilienpreise: ein ARDL-Ansatz für Deutschland

Belke, Ansgar - 2009

Die aktuellen Finanzmarktturbulenzen wurden durch Entwicklungen im Immobiliensektor ausgelöst. Vor diesem Hintergrund analysiert dieser Beitrag den Zusammenhang zwischen den Immobilienpreisen und der Geldmengen- und Kreditvolumensentwicklung für den Zeitraum 1992 -2006 (westdeutsche...

Persistent link: https://www.econbiz.de/10010271145

Demand and supply determinants of loan contract terms in small business lending

Kirschenmann, Karolin - 2010

einen Kredit, der in Lokalwährung nachgefragt wurde, eher in EUR vergibt, wenn sie mehr Refinanzierung in EUR und besonders … Institutionen, die Informationsasymmetrien zu reduzieren vermögen, wichtig sind, um für kleine Firmen den Zugang zu Kredit zu … Kredit zu erhalten, für KMU-Kredite deutlich zurück. Jedoch scheint eine bestehende Kunde-Bank-Beziehung besonders für KMU …

Persistent link: https://www.econbiz.de/10009476202

Corporate credit and leverage in the EU: Recent evolution, main drivers and financial stability implications

Beck, Thorsten; Peltonen, Tuomo; Perotti, Enrico C.; … - 2023

This report presents a long-term view of the evolution of financing of EU non-financial corporations (NFCs) in recent decades. It finds a decline in NFC leverage since at least 2008, and across countries, size categories and industries. It also documents a growing role of non-bank financial...

Persistent link: https://www.econbiz.de/10014327946

Political Booms, Financial Crises

Herrera, Helios; Ordoñez, Guillermo; Trebesch, Christoph - 2014

We show that political booms, measured by the rise in governments’ popularity, predict financial crises above and beyond other better-known early warning indicators, such as credit booms. This predictive power, however, only holds in emerging economies. We show that governments in emerging...

Persistent link: https://www.econbiz.de/10010427705