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Uncertain Booms and Fragility
Lee, Michael - 2017
I develop a framework of the build-up and outbreak of financial crises in an asymmetric information setting. In equilibrium, two distinct economic states arise endogenously: normal times – periods of modest investment, and booms – periods of expansionary investment. Normal times occur when...
Persistent link: https://www.econbiz.de/10012960899
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The Relationship Between Bankruptcy Risk and Growth for Non-Listed Firms
Nordal, Kjell Bjørn; Næs, Randi - 2011
We investigate the relationship between bankruptcy risk and expected future sales growth for Norwegian non-listed firms … for the period 1988-2007. We find that firms with high bankruptcy risk also have high expected future growth. Financial … ratios characterizing firms with high bankruptcy risk also characterize firms with high future expected growth. Small firms …
Persistent link: https://www.econbiz.de/10014185729
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Long-run growth uncertainty
Kuang, Pei; Mitra, Kaushik - 2016
Observed macroeconomic forecasts display gradual recognition of the long-run growth of endogenous variables (e.g. output, output per hour) and a positive correlation between long-run growth expectations and cyclical activities. Existing business cycle models appear inconsistent with the...
Persistent link: https://www.econbiz.de/10012010392
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Three essays in monetary economics : what do we learn from monetary economics for the lost decade of Japan?
Kato, Ryo - 2002
Persistent link: https://www.econbiz.de/10003629800
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Financial Stability and Economic Performance
Creel, Jerome - 2014
This paper aims at establishing the link between economic performance and financial stability in the European Union. We use the seminal framework – both in terms of variables and econometric method – of Beck and Levine (2004) to estimate this causal relationship, independently from but...
Persistent link: https://www.econbiz.de/10013047475
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Financial variables as predictors of real growth vulnerability
Reichlin, Lucrezia; Ricco, Giovanni; Hasenzagl, Thomas - 2020 - This version: 30th October 2019
We evaluate the role of financial conditions as predictors of macroeconomic risk first in the quantile regression …
Persistent link: https://www.econbiz.de/10012173525
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Financial variables as predictors of real growth vulnerability
Reichlin, Lucrezia; Ricco, Giovanni; Hasenzagl, Thomas - 2020
Persistent link: https://www.econbiz.de/10012233661
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Interactions between financial markets and macroeconomic variables in EU : a nonlinear modeling approach
Albu, Lucian-Liviu; Lupu, Radu; Călin, Adrian Cantemir - 2015
There is a general acceptance of the fact that a significant direct relationship between financial markets and macroeconomic variables exists, especially by considering the assertion that developed financial markets correspond to high GDP levels. This paper provides an investigation of the...
Persistent link: https://www.econbiz.de/10011480254
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Uncertainty, investment and growth : the impact of volatility and disaster risk on aggregate investment
Dihle, Hanno - 2019
important but often neglected element of micro- and macroeconomic theory. With the onset of the financial crisis in 2007 and the … of uncertainty in macroeconomic models against the background of the theory of real option values, with a strong focus on … crisis. Within a partial investment model, two kinds of uncertainty are introduced: volatility and disaster risk. The article …
Persistent link: https://www.econbiz.de/10012144945
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The term effect of financial cycle variables on GDP growth
Wang, Bo; Xiao, Yang - In: Journal of international money and finance 139 (2023), pp. 1-30
Persistent link: https://www.econbiz.de/10014478241