of firms partially offset reduced credit supply by resorting to alternative financing sources …

This paper addresses the credit channel in Germany by using aggregate data. We present a stylized model of the banking …. Applying a vector error correction model (VECM), we estimate the response of bank loans after a monetary policy shock taking … loans by matching the theoretical impulse responses with the empirical impulse responses to a monetary policy shock …

of Asdrubali et al. (1996). Their framework allows us to estimate the degree of smoothing of a shock to a state’s gross … domestic product by factor markets, the government sector, and credit markets, respectively. For the time period from 1970 to … through credit markets. For the post-reunification period, 1995 to 2006, the relative importance of the smoothing channels …

. Two different supply shocks are considered: an oil price shock, and the integration of relatively labour …-abundant countries into the world economy. With flexible wages, a negative supply shock leads to a decrease in the wage rate while …

their labor input in response to an uncertainty shock by delaying the replacement of workers who leave these establishments. …

their labor input in response to an uncertainty shock by delaying the replacement of workers who leave these establishments. …Zahlreiche Studien zeigen, dass sich Unsicherheitsschocks negativ auf den Arbeitsmarkt auswirken. Als Ursache für die … Transmission von Unsicherheitsschocks auf den Arbeitsmarkt werden in den meisten Studien die Anpassungskosten der Beschäftigung …