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Distribution, wealth and demand regimes in historical perspective : USA, UK, France and Germany, 1855-2010

Stockhammer, Engelbert; Rabinovich, Joel; Reddy, Niall - 2018

changes in income distribution and in private wealth on consumption and investment covering a period from as early as 1855 … effects are found to be positive and significant for consumption in the USA and UK, but weaker in France and Germany …

Persistent link: https://www.econbiz.de/10011924602

Do Banks Lend Less in Uncertain Times?

Raunig, Burkhard; Scharler, Johann; Sindermann, Friedrich - 2014

We study the development of bank lending in the U.S. after four large jumps in uncertainty using an event study approach. We find that more liquid banks reduce lending less than banks with smaller liquidity ratios after a surge in uncertainty. Lending by smaller banks is also less responsive to...

Persistent link: https://www.econbiz.de/10013370111

The effects of the saving and banking glut on the U.S. economy

Justiniano, Alejandro; Primiceri, Giorgio E.; … - 2013

We use a quantitative equilibrium model with houses, collateralized debt and foreign borrowing to study the impact of global imbalances on the U.S. economy in the 2000s. Our results suggest that the dynamics of foreign capital flows account for between one fourth and one third of the increase in...

Persistent link: https://www.econbiz.de/10010352184

The Triffin dilemma again

Campanella, Edoardo - 2010

Tiny changes in the American monetary policy can have dramatic effects on the rest of the world because of dollar's double role of national and international currency. This is the Triffin dilemma. The paper shows how it works through three examples: price of commodities, dollarization, and the...

Persistent link: https://www.econbiz.de/10008648332

Corporate tax reforms with policy uncertainty

Ábrahám, Árpád; Brendler, Pavel; Cárceles-Poveda, Eva - 2019

One important feature of tax reforms, in particular corporate tax reforms, is the uncertainty surrounding them. Are they going to be permanent or are they likely to be withdrawn by the subsequent government? The expected duration of the reform is important because it affects households' economic...

Persistent link: https://www.econbiz.de/10012312024

Do banks lend less in uncertain times

Raunig, Burkhard; Scharler, Johann; … - 2014

Persistent link: https://www.econbiz.de/10010252111

Oil prices and the US economy : where is the boom?

Arora, Vipin - 2015

negative if consumption grows slowly. The reasons for this change are straightforward, if underappreciated: (i) the value of …

Persistent link: https://www.econbiz.de/10011289074

The rate of return on everything, 1870-2015

Jordà, Òscar; Knoll, Katharina; Kuvshinov, Dmitry; … - 2018

time - total returns to the largest, but oft ignored, component of household wealth, housing. The annual data on total … returns for equity, housing, bonds, and bills cover 16 advanced economies from 1870 to 2015, and our new evidence reveals many …

Persistent link: https://www.econbiz.de/10011794864

Monetary policy, housing booms and financial (im)balances

Eickmeier, Sandra; Hofmann, Boris - 2010

This paper uses a factor-augmented vector autoregressive model (FAVAR) estimated on U.S. data in order to analyze monetary transmission via private sector balance sheets, credit risk spreads and asset markets in an integrated setup and to explore the role of monetary policy in the three...

Persistent link: https://www.econbiz.de/10010300360

Housing market spillovers: evidence from an estimated DSGE model

Iacoviello, Matteo; Neri, Stefano - 2008

that the housing market spillovers are non-negligible, concentrated on consumption rather than business investment, and …We study sources and consequences of fluctuations in the housing market. The upward trend in real housing prices of the … last 40 years can be explained by slow technological progress in the housing sector. Over the business cycle, housing …

Persistent link: https://www.econbiz.de/10011506666