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/09. -- Exports ; great export recovery ; granular economy ; Germany … the micro-structure of the recent export recovery in 2010 in manufacturing industries in Germany after the great recession … export (i.e. at the so-called intensive margin) while the increase of exports due to export starters (at the so …
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Motivated by the apparent failure of the credit multiplier mechanism (CM) to deliver amplification in DSGE models, we re-examine its role in business cycles to address the question: is something wrong with the CM? Our answer is no. In coming to this answer we construct a model with reproducible...
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This study investigates whether fluctuations in credit supply in a macroeconomy and a relational bank's financial condition affect the capital structure adjustment of firms. Using data for Japanese listed firms from 1988 to 2014, we find that firms adjust their capital structure slower during...
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This paper examines empirically the nonlinear business cycle dynamics due to the presence of financial frictions. Using a threshold vector auto regression, the authors estimate the behavior of interest rate shocks in which a regime change occurs if the two respective threshold variables namely...
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growth have been heavily dependent on exports. Design/methodology – I use both aggregated and disaggregated trade statistics … demand, separately for goods from the world and from Korea. 3) I compare the drop in goods exports in slowdown and trade … slowdown is structural or cyclical. I provide two concrete evidence that the export drop in 2015 stems from low oil prices: one …
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