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The interest rate and credit channels in Belgium: an investigation with micro-level firm data
Butzen, Paul; Fuss, Catherine; Vermeulen, Philip - 2001
This paper investigates the effects of monetary policy on firms' investment behaviour. The analysis relies on a …. First, we estimate a reduced-form investment equation derived from the neo-classical model, augmented by cash flow. This …
Persistent link: https://www.econbiz.de/10011506540
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The interest rate and credit channels in Belgium : an investigation with micro-level firm data
Butzen, Paul; Fuss, Catherine; Vermeulen, Philip - 2001
This paper investigates the effects of monetary policy on firms' investment behaviour. The analysis relies on a …. First, we estimate a reduced-form investment equation derived from the neo-classical model, augmented by cash flow. This …
Persistent link: https://www.econbiz.de/10011622593
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The interest rate and credit channels in Belgium: an investigation with micro-level firm data
Butzen, Paul; Fuss, Catherine; Vermeulen, Philip - Nationale Bank van België/Banque national de Belqique (BNB) - 2001
This paper investigates the effects of monetary policy on firms\u2019 investment behaviour. The analysis relies on a …. First, we estimate a reduced-form investment equation derived from the neo-classical model, augmented by cash flow. This …
Persistent link: https://www.econbiz.de/10005060067
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The interest rate and crédit channels in Belgium: an investigation with micro-level firm data
Butzen, Paxil; Fuss, Catherine; Vermeulen, Philip - In: Brussels Economic Review 45 (2002) 3, pp. 5-36
This paper investigates the effects of monetary policy on firms' investment behaviour through the interest rate and … and firms of all sizes. We proceed in two steps. First, we estimate a reduced-form investment equation derived from the … neoclassical model, augmented by cash flow. This equation gives us the sensitivity of investment to the user cost, sales and cash …
Persistent link: https://www.econbiz.de/10005700001
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The effect of credit composition on entrepreneurship
Aghdam, Ali Nassiri; Behdarvand, Shahin; Sheshdeh, … - In: Latin American journal of central banking : LAJCB 4 (2023) 4, pp. 1-21
In this study, we aim to assess the relevance of credit composition to entrepreneurship empirically in light of the Schumpeterian perspective. The results of such an analysis can imply whether central banks should continue with the so-called neutrality principle or undertake an active credit...
Persistent link: https://www.econbiz.de/10014496880
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Estimating cost efficiency of Turkish commercial banks under unobserved heterogeneity with stochastic frontier models
Gunes, Hakan; Yildirim, Dilem - In: Central Bank Review (CBR) 16 (2016) 4, pp. 127-136
This study aims to investigate the cost efficiency of Turkish commercial banks over the restructuring period of the Turkish banking system, which coincides with the 2008 financial global crisis and the 2010 European sovereign debt crisis. To this end, within the stochastic frontier framework, we...
Persistent link: https://www.econbiz.de/10012217549
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Product and labor market imperfections and scale economies : micro-evidence on France, Japan and the Netherlands
Dobbelaere, Sabien; Kiyota, Kōzō; Mairesse, Jacques - 2013
Persistent link: https://www.econbiz.de/10010191421
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Economies d?échelle, économies de diversification et efficacité productive des banques luxembourgeoises : une analyse comparative des frontières stochastiques sur données en panel...
Rouabah, Abdelaziz - Central Bank of Luxembourg - 2002
This study analyses productive efficiency in banking and scale and scope economies using stochastic frontier analysis. The European banking sector underwent great changes during the period under study (1995-2000), featuring a marked increase in competition. Empirical results suggest that...
Persistent link: https://www.econbiz.de/10009276951
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Capital Structure Dynamics in UK and Continental Europe
Wanzenried, Gabrielle - Department Volkswirtschaftlehre, Universität Bern - 2002
This paper analyzes capital structure determinants of UK and continental European firms. Besides considering firmspecific characteristics, it investigates the impact of different corporate governance related institution- and marketspecific aspects on the capital structure choice. The dynamic...
Persistent link: https://www.econbiz.de/10005515674
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Bank lending channel in Zambia : empirical evidence from bank level data
Simpasa, Anthony; Nandwa, Boaz; Nabassaga, Tiguéné - In: Journal of economic studies 42 (2015) 6, pp. 1159-1174
Persistent link: https://www.econbiz.de/10011393128