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The financial and real performance of non-financial corporations in the Euro area: 1999-2015
Salas-Fumás, Vicente; San Juan, Lucio; Vallés, Javier - 2017
Persistent link: https://www.econbiz.de/10011799869
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The role of bank lending tightening on corporate bond issuance in the eurozone
Kaya, Orcun; Wang, Lulu - 2014
eurozone. By utilizing a unique data set provided by the ECB Bank Lending Survey, we capture the "pure" credit supply effect on … banks reporting considerable tightening on loans leads to around a 7% increase in firms' bond issuance in the eurozone … too. Furthermore, the impact of bank credit tightening on firms' bond issuance is particularly observable in core eurozone …
Persistent link: https://www.econbiz.de/10010349389
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Interest rates, corporate lending and growth in the Euro area
Tondl, Gabriele - 2016
Persistent link: https://www.econbiz.de/10011498280
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External financing and economic activity in the euro area : why are bank loans special?
Aldasoro, Iñaki; Unger, Robert - 2017
Using a Bayesian vector autoregression (BVAR) identified with a mix of sign and zero restrictions, we show that a restrictive bank loan supply shock has a strong and persistent negative impact on real GDP and the GDP deflator. This result comes about even though flows of other sources of...
Persistent link: https://www.econbiz.de/10011632175
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Bank loan supply shocks and alternative financing of non-financial corporations in the euro area
Mandler, Martin; Scharnagl, Michael - 2019
We analyse the macroeconomic effects of exogenous contractions in bank lending to non-financial corporations in the Euro Area, Germany, France, Italy and Spain using a Bayesian vector autoregressive model with endogenous hyperparameter selection and identification via sign restrictions. We focus...
Persistent link: https://www.econbiz.de/10012034573
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External financing and economic activity in the euro area : why are bank loans special?
Aldasoro, Iñaki; Unger, Robert - 2017
Persistent link: https://www.econbiz.de/10011752673
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Die Aussenfinanzierung privater Haushalte und nichtfinanzieller Kapitalgesellschaften : ein Vergleich zwischen dem Euro-Währungsgebiet und den Vereinigten Staaten
In: Monatsbericht / Europäische Zentralbank (2009), pp. 75-92
Persistent link: https://www.econbiz.de/10003825025
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Entwicklung der Bilanzen im privaten Sektor des Euro-Währungsgebiets und der Vereinigten Staaten
In: Monatsbericht / Europäische Zentralbank (2004) 2, pp. 63-75
Persistent link: https://www.econbiz.de/10001930128
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Financing constraints and firms' cash policy in the euro area
Pál, Rozália (contributor); Ferrando, Annalisa (contributor) - 2006
This paper investigates the financing conditions of non-financial corporations in the euro area. We develop a new firm classification based on micro data by distinguishing between three groups of firms: unconstrained, relatively and absolutely constrained firms. We also provide further evidence...
Persistent link: https://www.econbiz.de/10003337260
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Financing obstacles among euro area firms : who suffers the most?
Ferrando, Annalisa; Griesshaber, Nicolas - 2011
In this study we investigate the determinants of financing obstacles using survey data on a sample of around 5000 firms from the euro area countries. This completely new survey - started at the end of 2009 - gives us the opportunity to test whether firm characteristics such as size, age,...
Persistent link: https://www.econbiz.de/10008901467