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increases. This prediction is tested with the universe of U.S. commercial banks over the period 1984-2010. Identification of … credit supply is achieved by looking at the differential response of banks according to their level of capitalization …. Consistent with the theoretical predictions, increases in uncertainty reduce the supply of credit, more so for banks with lower …
Persistent link: https://www.econbiz.de/10011142078
Building on recent work on the role of speculation and inventories in oil markets, we embed a competitive oil storage model within a DSGE model of the U.S. economy. This enables us to formally analyze the impact of a (speculative) storage demand shock and to assess how the effects of various...
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This paper discusses new results using the EU KLEMS 2019 Release focussing on the role of ICT and intangibles assets employing a growth accounting framework and an econometric analysis. The EU KLEMS 2019 data covers most EU Member States, the US and Japan, forty detailed industries according to...
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This paper contributes to the large debate regarding the impact of oil price changes on U.S. GDP growth. Firstly, it replicates empirical findings of prominent studies and finds that the proposed oil price measures have a dissipating effect with recent data up to 2016Q4. Secondly, it re-examines...
Persistent link: https://www.econbiz.de/10011906502
Real GDP growth and real effective exchange rate (REER) appreciation appear cointegrated with the current and financial accounts of the U.S. balance of payments. On this basis, we estimate reduced form equations showing that expected changes and shocks to real GDP, the REER, energy prices, and...
Persistent link: https://www.econbiz.de/10014401372