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Liquidity regulation, the Central Bank, and the money market : conference paper
Scheubel, Beatrice; Körding, Julia - 2013 - This version: 15 February 2013
crisis, recent advances in global liquidity regulation try to curb the excessive reliance on short-term wholesale funding … regulation may interfere with the central bank's influence on short-term money market rates. This paper tries to fill the gap in … asymmetric information. Regulation can be welfare-improving in the presence of an externality and also in case of collateral …
Persistent link: https://www.econbiz.de/10010342820
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Utility Price Regulation and Time Inconsistency : Comparisons with Monetary Policy
Levine, Paul - 2010
We examine the hold-up problem of price regulation and compare it with the monetary policy credibility problem. For …-up problem in regulation turns out to be more serious than the inflation bias problem in monetary policy. Even with far …
Persistent link: https://www.econbiz.de/10012760882
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Banking behaviour and political business cycle in Africa : the role of independent regulatory policies of the central bank
Ofori-Sasu, Daniel; Agbloyor, Elikplimi Komla; Nsafoah, … - 2024
This study examines the effect of regulatory independence of the central bank in shaping the impact of electoral cycles on bank lending behaviour in Africa. It employs the dynamic system Generalized Method of Moments (SGMM) Two-Step estimator for a panel dataset of 54 African countries over the...
Persistent link: https://www.econbiz.de/10014514254
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What is behind the weakness in global investment?
Leboeuf, Maxime; Fay, Bob - 2016
The recovery in private business investment globally remains extremely weak more than seven years after the financial crisis. This paper contributes to the ongoing policy debate on the factors behind this weakness by analyzing the role of growth prospects and uncertainty in explaining...
Persistent link: https://www.econbiz.de/10011422052
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Inflation, investment and growth : a banking approach
Gillman, Max (contributor); Kejak, Michal (contributor) - 2008
. But a seeming puzzle arises of opposite Tobin-like inflation effects because theory indicates a negative Tobin effect when …
Persistent link: https://www.econbiz.de/10003739611
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Independent Utility Regulators : Lessons from Monetary Policy
Stern, Jon; Levine, Paul; Trillas, Francesc - 2015
This paper explores the similarity of the underlying economic problems that lead to the establishment of (a) independent central banks to operate national monetary policies and (b) independent regulatory agencies for telecommunications and other utility service industries. We show that, in both...
Persistent link: https://www.econbiz.de/10014091599
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Liquidity regulation in a monetary economy
Aquino, Juan Carlos - 2020
Persistent link: https://www.econbiz.de/10012420201
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Firms' investment decisions in response to demand and price uncertainty
Fuss, Catherine; Vermeulen, Philip - 2004
We estimate the effect of demand and price uncertainty on firms’ investment decisions from a panel of manufacturing firms. Uncertainty measures are derived from firms’ subjective qualitative expectations. They are close to their theoretical counterparts, the variances of future demand and...
Persistent link: https://www.econbiz.de/10009639401
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Efficiency and risk in european banking
Fiordelisi, Franco; Marques-Ibanez, David; Molyneux, Phil - 2010
We analyze the impact of efficiency on bank risk. We also consider whether bank capital has an effect on this relationship. We model the inter-temporal relationships among efficiency, capital and risk for a large sample of commercial banks operating in the European Union. We find that reductions...
Persistent link: https://www.econbiz.de/10009640329
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Financial investment constraints : a panel threshold application to German firm level data
Tarassow, Artur - 2014
This paper attempts to test whether financial supply-side shifts explain the low-investment climate of private firms in Germany. The core contention is that a firm's financial position contributes to its access to external finance on credit markets. Special emphasizes is put on small and...
Persistent link: https://www.econbiz.de/10010425733