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Credit constraints, firm investment and growth : evidence from survey data
García-Posada, Miguel - 2018
We assess the impact of credit constraints on investment, inventories and other working capital and firm growth with a large panel of small and medium-sized enterprises from 12 European countries for the period 2014-2016. The data come from the Survey on the access to finance of enterprises...
Persistent link: https://www.econbiz.de/10011792068
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Fractional Trading
Da, Zhi; Fang, Vivian W.; Lin, Wenwei - 2022
Fractional trading (FT)—the ability to trade less than a full share—allows low-budget retail investors to trade high-priced stocks. This paper quantifies FT's impact on retail ownership and trading of high-priced stocks by exploiting its sequential introduction at four brokerage firms since...
Persistent link: https://www.econbiz.de/10013321811
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Liquidity Shocks and Real GDP Growth : Evidence from a Bayesian Time-Varying Parameter VAR
Ellington, Michael - 2016
We examine the dynamic impact of liquidity shocks resonating in stock and housing markets on real GDP growth. We fit a Bayesian time-varying parameter VAR model with stochastic volatility to US data from 1970 to 2014. GDP becomes highly sensitive to house market liquidity shocks as disruptions...
Persistent link: https://www.econbiz.de/10012977876
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Financial Frictions and Trade Dynamics
Bergin, Paul R. - 2018
This paper demonstrates theoretically that a financial shock can have very persistent effects on international trade … persistently slower growth rate in trade. We find conditions under which a transitory financial shock significantly reduces the … financial shock, and firm entry investment that requires traded goods. This mechanism provides an example of how firm dynamics …
Persistent link: https://www.econbiz.de/10012921539
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On the sources of aggregate fluctuations in emerging economies
Chang, Roberto; Fernández, Andrés - 2010
Persistent link: https://www.econbiz.de/10003964916
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Disasters and development: natural disasters, credit constraints and economic growth
McDermott, Thomas K. J.; Barry, Frank; Tol, Richard S. J. - 2011
, manifested through poorly developed financial markets. The theoretical analysis shows that the shock of a disaster occurrence …
Persistent link: https://www.econbiz.de/10009315714
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On the sources of aggregate fluctuations in emerging economies
Chang, Roberto; Fernández, Andrés - In: International economic review 54 (2013) 4, pp. 1265-1293
Persistent link: https://www.econbiz.de/10010343697
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Financial conditions and slow recoveries
Huang, Kevin X. D.; Chen, Jie; Li, Zhe; Sun, Jianfei - 2014
Persistent link: https://www.econbiz.de/10010502112
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Credit booms, debt overhang and secular stagnation
Illing, Gerhard; Ono, Yoshiyasu; Schlegl, Matthias - 2017
Why do advanced economies fall into prolonged periods of economic stagnation, particularly in the aftermath of credit booms? We present a model of persistent aggregate demand shortage based on strong liquidity preferences of households, in which we incorporate financial imperfections to study...
Persistent link: https://www.econbiz.de/10011774952
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Financial Frictions and Trade Dynamics
Bergin, Paul - 2018
This paper demonstrates theoretically that a financial shock can have very persistent effects on international trade … persistently slower growth rate in trade. We find conditions under which a transitory financial shock significantly reduces the … financial shock, and firm entry investment that requires traded goods. This mechanism provides an example of how firm dynamics …
Persistent link: https://www.econbiz.de/10012453213