Narrow search
Showing 1 - 10 of 626
Cover Image
Incorporating anchored inflation expectations in the Phillips curve and in the derivation of OECD measures of equilibrium unemployment
Rusticelli, Elena; Turner, David; Cavalleri, Maria Chiara - 2015
Inflation has become much less sensitive to movements in unemployment in recent decades. A common explanation for this … unemployment gap which underlie the OECD’s Economic Outlook projections. The former OECD specification can be characterised as a … backward-looking specification, the anchored expectations approach also tends to imply larger unemployment gaps for those …
Persistent link: https://www.econbiz.de/10011399530
Cover Image
China's march to prosperity : reforms to avoid the middle-income trap
Koen, Vincent; Herd, Richard; Hill, Sam - 2013
China is well-placed to avoid the so-called “middle-income trap” and to continue to converge towards the more advanced economies, even though growth is likely to slow from near double-digit rates in the first decade of this millennium to around 7% at the 2020 horizon. However, in order to...
Persistent link: https://www.econbiz.de/10010231008
Cover Image
Sovereign risk and bank risk-taking
Ari, Anil - 2018
I propose a dynamic general equilibrium model in which strategic interactions between banks and depositors may lead to endogenous bank fragility and slow recovery from crises. When banks' investment decisions are not contractible, depositors form expectations about bank risk-taking and demand a...
Persistent link: https://www.econbiz.de/10011978544
Cover Image
Debt overhang and investment efficiency
Barbiero, Francesca; Popov, Alexander; Wolski, Marcin - 2018
Using a pan-European data set of 8.5 million firms, this paper finds that firms with high debt overhang invest relatively more than otherwise similar firms if they are operating in sectors facing good global growth opportunities. At the same time, the positive impact of a marginal increase in...
Persistent link: https://www.econbiz.de/10011946656
Cover Image
The simpler, the better : measuring financial conditions for monetary policy and financial stability
Arrigoni, Simone; Bobasu, Alina; Venditti, Fabrizio - 2021
In this paper we assess the merits of financial condition indices constructed using simple averages versus a more sophisticated alternative that uses factor models with time varying parameters. Our analysis is based on data for 18 advanced and emerging economies at a monthly frequency covering...
Persistent link: https://www.econbiz.de/10012653846
Cover Image
Decomposing financial (in)stability in emerging economies
Lepers, Etienne; Sánchez Serrano, Antonio - 2017
The build-up of risks in advanced economies has seen a lot of research efforts in the recent years, while similar research efforts on emerging economies have not been so strong and, when undertaken, have focused mostly on its international dimension. Simultaneously, the financial system of the...
Persistent link: https://www.econbiz.de/10011976156
Cover Image
Business cycles and the balance sheets of the financial and non-financial sectors
Villacorta, Alonso - 2018
I propose and estimate a dynamic model of financial intermediation to study the different roles of the condition of banks' and firms' balance sheets in real activity. The net worth of firms determines their borrowing capacity both from households and banks. Banks provide risky loans to multiple...
Persistent link: https://www.econbiz.de/10011848362
Cover Image
A new database for financial crises in European countries : ECB/ESRB EU crises database
Lo Duca, Marco; Koban, Anne; Basten, Marisa; Bengtsson, … - 2017
This paper presents a new database for financial crises in European countries, which serves as an important step towards establishing a common ground for macroprudential oversight and policymaking in the EU. The database focuses on providing precise chronological definitions of crisis periods to...
Persistent link: https://www.econbiz.de/10011972947
Cover Image
A new database for financial crises in European countries : ECB/ESRB EU crises database : developed by FSC MPAG and ESRB AWG
Lo Duca, Marco; Koban, Anne; Basten, Marisa; Bengtsson, … - 2017
This paper presents a new database for financial crises in European countries, which serves as an important step towards establishing a common ground for macroprudential oversight and policymaking in the EU. The database focuses on providing precise chronological definitions of crisis periods to...
Persistent link: https://www.econbiz.de/10011698592
Cover Image
Mismatch unemployment in Austria : the role of regional labour markets for skills
Böheim, René; Christl, Michael - 2021
relationship between the unemployment and the job vacancy rate. Using detailed administrative data on vacancies and registered … because mismatch increased substantially. Looking on the regional and skill dimension of mismatch unemployment, we find a … substantial increase of mismatch unemployment for manual routine tasks as well as for the region of Vienna. …
Persistent link: https://www.econbiz.de/10012593515