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Lassen sich aus den Ursachen des Niedrigzinsumfeldes Wege für eine Zinswende ableiten?
Demary, Markus - In: Vierteljahrshefte zur Wirtschaftsforschung 85 (2016) 1, pp. 159-172
Das Umfeld niedriger Zinsen ist weniger auf die Geldpolitik, sondern mehr auf globale Trends in der … höherer natürlicher Realzins ist auch für die Wirksamkeit der Geldpolitik förderlich, um die Probleme durch das Erreichen der …The low interest rate environment is less due to monetary policy and more due to global trends in investment and …
Persistent link: https://www.econbiz.de/10011739549
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The impacts of credit standards on aggregate fluctuations in a small open economy: The role of monetary policy
Le, Hai - In: Economies 9 (2021) 4, pp. 1-26
Empirical evidence demonstrates that credit standards, including lending margins and collateral requirements, move in a countercyclical direction. In this study, we construct a small open economy model with financial frictions to generate the countercyclical movement in credit standards. Our...
Persistent link: https://www.econbiz.de/10013199941
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Post-crisis business investment in the euro area and the role of monetary policy
Ademmer, Martin; Jannsen, Nils - In: Applied Economics 50 (2018) 34-35, pp. 3787–3797
Business investment in the euro area strongly declined during the Global Financial Crisis and the Sovereign Debt Crisis … analyse the sluggish recovery in business investment in the euro area and the role of monetary policy in three steps. We … investigate the main factors that have impeded business investment since the Global Financial Crisis. We empirically analyse how …
Persistent link: https://www.econbiz.de/10011877516
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The Costs of Zombification in Europe: Why Austrian Economics Fails and the Empirical Findings for Japan are a Misleading Guide
Schlotmann, Olaf; Eberhardt, Frank - In: Credit and Capital Markets – Kredit und Kapital 53 (2020) 1, pp. 17-42
Supporters of the Austrian School of Economics and a number of empirical studies have claimed that the increasing number of "zombie" companies is a supply-side reason for the low growth rates in Europe. Often, these studies cite empirical findings for Japan to justify their claims, and conclude...
Persistent link: https://www.econbiz.de/10014523490
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DSGE Models and Central Banks
Tovar, Camilo Ernesto - In: Economics: The Open-Access, Open-Assessment E-Journal 3 (2009) 2009-16, pp. 1-31
Over the past 15 years there has been remarkable progress in the specification and estimation of dynamic stochastic general equilibrium (DSGE) models. Central banks in developed and emerging market economies have become increasingly interested in their usefulness for policy analysis and...
Persistent link: https://www.econbiz.de/10010298635
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Does inflation harm corporate investment? Empirical evidence from OECD countries
Ciżkowicz, Piotr; Rzońca, Andrzej - In: Economics: The Open-Access, Open-Assessment E-Journal 7 (2013) 2013-16, pp. 1-38
Theoretical models point at various channels of the impact of inflation on corporate investment. This article attempts … corporate investment and inflation on the sample of 21 OECD countries in the years 1960-2005. The obtained negative relationship … this relationship: the marginal effect on corporate investment is higher at inflation rates between 3 and 5.5 per cent …
Persistent link: https://www.econbiz.de/10010312014
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Monetary Policy and Domestic Investment in Nigeria: The Role of the Inflation Rate
Ezeibekwe, Obinna Franklin - In: Economics and Business 34 (2020) 1, pp. 139-155
investment. Empirical results suggest that the impact of the interest rates on investment depends on the level of the inflation … rate. The size of the effect of interest rates on investment gets weaker as the inflation rate increases suggesting that … attributable to low bank lending rates. Additionally, the impact of the money supply target on investment does not depend on the …
Persistent link: https://www.econbiz.de/10012287023
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The Interest Rate Sensitivity of Investment
Baldi, Guido; Lange, Alexander - In: Credit and Capital Markets 52 (2019) 2, pp. 173-190
The interest rate sensitivity of investment has often played an important role in macroeconomic models. However, many … vector autoregressive (VAR) models do not include investment to the list of variables. In this paper, we empirically … investigate the size and the evolution of the interest rate sensitivity of investment for the United States and the four largest …
Persistent link: https://www.econbiz.de/10012290511
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The Interest Rate Sensitivity of Investment
Baldi, Guido; Lange, Alexander - In: Credit and Capital Markets – Kredit und Kapital 52 (2019) 2, pp. 173-190
The interest rate sensitivity of investment has often played an important role in macroeconomic models. However, many … vector autoregressive (VAR) models do not include investment to the list of variables. In this paper, we empirically … investigate the size and the evolution of the interest rate sensitivity of investment for the United States and the four largest …
Persistent link: https://www.econbiz.de/10014521636
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Net worth ratio and financial instability
Watanabe, Toshio - In: Journal of Economic Structures 2 (2013), pp. 1-18
formulate a model of financing. New Keynesian theory emphasizes that a firm's net worth influences investment decisions and … banks lending reaction to the net worth ratio is more elastic than investment reaction. When the steady state is the saddle …
Persistent link: https://www.econbiz.de/10011551998